Central Bank & Trust Co. boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 42,955 shares of the industrial products company’s stock after buying an additional 797 shares during the period. Illinois Tool Works accounts for approximately 1.6% of Central Bank & Trust Co.’s portfolio, making the stock its 18th largest position. Central Bank & Trust Co.’s holdings in Illinois Tool Works were worth $6,153,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake 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 period. Wells Fargo & Company MN boosted its stake 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 period. Bank of New York Mellon Corp boosted its stake in Illinois Tool Works by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 4,554,364 shares of the industrial products company’s stock worth $603,315,000 after buying an additional 67,451 shares during the period. FMR LLC boosted its stake in Illinois Tool Works by 0.7% in the first quarter. FMR LLC now owns 3,449,170 shares of the industrial products company’s stock worth $456,912,000 after buying an additional 23,205 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Illinois Tool Works by 7.1% in the first quarter. Geode Capital Management LLC now owns 3,084,804 shares of the industrial products company’s stock worth $408,069,000 after buying an additional 203,294 shares during the period. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Inc. (NYSE:ITW) traded up 0.16% on Thursday, hitting $137.16. 259,584 shares of the stock were exchanged. Illinois Tool Works Inc. has a 12 month low of $111.50 and a 12 month high of $150.29. The company has a 50-day moving average of $141.50 and a 200 day moving average of $138.11. The firm has a market cap of $47.20 billion, a P/E ratio of 22.19 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $1.46 EPS. Equities research analysts expect 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. Stockholders of record on Friday, September 29th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Thursday, September 28th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s dividend payout ratio (DPR) is 42.07%.

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A number of equities research analysts recently commented on the stock. BidaskClub cut shares of Illinois Tool Works from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Robert W. Baird set a $145.00 price target on shares of Illinois Tool Works and gave the stock a “hold” rating in a report on Thursday, August 24th. J P Morgan Chase & Co cut shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $141.00 to $132.00 in a report on Thursday, August 17th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $147.00 price target on shares of Illinois Tool Works in a report on Wednesday, August 16th. Finally, Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 price objective for the company in a research note on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Illinois Tool Works has an average rating of “Hold” and a consensus target price of $150.64.

In related news, insider John R. Hartnett sold 11,750 shares of Illinois Tool Works stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the completion of the sale, 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 available at this link. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of Illinois Tool Works stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $144.00, for a total transaction of $5,251,248.00. Following the sale, the insider now owns 55,878 shares of the company’s stock, valued at approximately $8,046,432. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

About Illinois Tool Works

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)

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