HL Financial Services LLC lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,246 shares of the industrial products company’s stock after selling 717 shares during the period. HL Financial Services LLC’s holdings in Illinois Tool Works were worth $9,060,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hudock Capital Group LLC grew its stake in Illinois Tool Works by 0.6% during the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 6 shares during the period. Washington Trust Bank grew its stake in Illinois Tool Works by 1.1% during the second quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock worth $140,000 after purchasing an additional 11 shares during the period. Trust Co. of Virginia VA grew its stake in Illinois Tool Works by 0.4% during the first quarter. Trust Co. of Virginia VA now owns 3,865 shares of the industrial products company’s stock worth $512,000 after purchasing an additional 15 shares during the period. Marietta Wealth Management LLC grew its stake in Illinois Tool Works by 0.8% during the first quarter. Marietta Wealth Management LLC now owns 3,409 shares of the industrial products company’s stock worth $452,000 after purchasing an additional 26 shares during the period. Finally, CENTRAL TRUST Co grew its stake in Illinois Tool Works by 0.4% during the second quarter. CENTRAL TRUST Co now owns 6,767 shares of the industrial products company’s stock worth $970,000 after purchasing an additional 26 shares during the period. 74.86% of the stock is owned by institutional investors and hedge funds.

Shares of Illinois Tool Works Inc. (NYSE ITW) opened at 145.64 on Friday. The company’s 50-day moving average price is $139.28 and its 200-day moving average price is $139.12. The company has a market capitalization of $50.12 billion, a price-to-earnings ratio of 23.57 and a beta of 1.11. Illinois Tool Works Inc. has a one year low of $111.50 and a one year 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 EPS for the quarter, beating the consensus estimate of $1.63 by $0.03. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period last year, the business posted $1.46 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Illinois Tool Works Inc. will post $6.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.14%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio is presently 42.07%.

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Several equities research analysts recently commented on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 target price (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. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research note on Wednesday, July 12th. J P Morgan Chase & Co cut Illinois Tool Works from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $141.00 to $132.00 in a research note on Thursday, August 17th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $160.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $150.64.

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)

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