Private Bank & Trust Co. reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,697 shares of the industrial products company’s stock after selling 409 shares during the period. Private Bank & Trust Co.’s holdings in Illinois Tool Works were worth $1,962,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITW. BlackRock Inc. boosted its position in Illinois Tool Works by 1,661.3% in the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock worth $2,559,083,000 after buying an additional 18,221,359 shares during the last quarter. HPM Partners LLC purchased a new position in Illinois Tool Works during the first quarter worth approximately $95,987,000. Janus Capital Management LLC boosted its position in Illinois Tool Works by 19.5% in the first quarter. Janus Capital Management LLC now owns 2,951,426 shares of the industrial products company’s stock worth $390,967,000 after buying an additional 482,027 shares during the last quarter. Prudential Financial Inc. boosted its position in Illinois Tool Works by 58.5% in the first quarter. Prudential Financial Inc. now owns 1,218,246 shares of the industrial products company’s stock worth $161,380,000 after buying an additional 449,430 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Illinois Tool Works by 3.6% in the first quarter. Wells Fargo & Company MN now owns 8,905,002 shares of the industrial products company’s stock worth $1,179,646,000 after buying an additional 308,538 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Illinois Tool Works Inc. (NYSE ITW) traded down 0.38% on Friday, hitting $135.67. The stock had a trading volume of 1,123,747 shares. The firm has a market cap of $46.69 billion, a PE ratio of 21.95 and a beta of 1.11. The company has a 50-day moving average price of $142.53 and a 200 day moving average price of $137.77. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $150.29.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. Equities analysts forecast that Illinois Tool Works Inc. will post $6.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be paid a $0.78 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.30%. Illinois Tool Works’s dividend payout ratio (DPR) is 42.07%.

COPYRIGHT VIOLATION NOTICE: This report was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another site, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/08/19/private-bank-trust-co-lowers-stake-in-illinois-tool-works-inc-itw-updated.html.

A number of research analysts have recently commented on ITW shares. Goldman Sachs Group, Inc. (The) upgraded Illinois Tool Works from a “sell” rating to a “buy” rating and raised their target price for the company from $131.00 to $155.00 in a research note on Thursday, June 1st. Morgan Stanley reiterated an “equal weight” rating and set a $140.00 price objective (up previously from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. BidaskClub cut Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Deutsche Bank AG reiterated a “buy” rating and set a $160.00 price objective (up previously from $140.00) on shares of Illinois Tool Works in a research note on Saturday, April 29th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $160.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $151.08.

In related news, insider John R. Hartnett sold 11,750 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $144.96, for a total value of $1,703,280.00. Following the completion of the transaction, the insider now owns 23,839 shares in the company, valued at approximately $3,455,701.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael M. Larsen sold 52,447 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $140.62, for a total value of $7,375,097.14. Following the completion of the transaction, the chief financial officer now owns 67,383 shares of the company’s stock, valued at approximately $9,475,397.46. The disclosure for this sale can be found here. Insiders sold a total of 100,664 shares of company stock valued at $14,329,625 in the last 90 days. 0.90% of the stock is currently owned by company insiders.

Illinois Tool Works Company Profile

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

Receive News & Stock Ratings for Illinois Tool Works Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related stocks with our FREE daily email newsletter.