Gratus Capital LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,678 shares of the industrial products company’s stock after selling 76 shares during the quarter. Gratus Capital LLC’s holdings in Illinois Tool Works were worth $5,111,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ITW. Hudock Capital Group LLC boosted its holdings in Illinois Tool Works by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,059 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 5 shares in the last quarter. Washington Trust Bank grew its stake in shares of 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 acquiring an additional 11 shares during the last quarter. Trust Co. of Virginia VA grew its stake in shares of 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 acquiring an additional 15 shares during the last quarter. Sullivan Bruyette Speros & Blaney LLC grew its stake in shares of Illinois Tool Works by 1.1% during the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 2,102 shares of the industrial products company’s stock worth $301,000 after acquiring an additional 22 shares during the last quarter. Finally, Marietta Wealth Management LLC increased its holdings in shares of 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 valued at $452,000 after acquiring an additional 26 shares in the last quarter. Institutional investors own 74.79% of the company’s stock.

Shares of Illinois Tool Works Inc. (NYSE ITW) opened at 149.79 on Wednesday. The firm has a market capitalization of $51.55 billion, a P/E ratio of 24.24 and a beta of 1.12. The firm’s 50-day moving average price is $141.81 and its 200 day moving average price is $140.39. Illinois Tool Works Inc. has a 12 month low of $111.50 and a 12 month high of $150.87.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts anticipate that Illinois Tool Works Inc. will post $6.46 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.08%. Illinois Tool Works’s dividend payout ratio (DPR) is 50.49%.

A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 target price for the company in a research note on Wednesday, July 12th. Credit Suisse Group set a $141.00 target price on shares of Illinois Tool Works and gave the stock a “hold” rating in a research report on Tuesday, July 25th. BidaskClub lowered shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Jefferies Group LLC restated a “buy” rating and set a $170.00 price target (up previously from $155.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. Finally, J P Morgan Chase & Co cut shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $141.00 to $132.00 in a report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $151.50.

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Illinois Tool Works 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.

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

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