Johnson Financial Group Inc. trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 61.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,614 shares of the industrial products company’s stock after selling 4,220 shares during the period. Johnson Financial Group Inc.’s holdings in Illinois Tool Works were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of ITW. Pictet Asset Management Ltd. grew its stake in Illinois Tool Works by 12.0% in the first quarter. Pictet Asset Management Ltd. now owns 204,191 shares of the industrial products company’s stock valued at $27,050,000 after acquiring an additional 21,900 shares during the period. Dumont & Blake Investment Advisors LLC grew its stake in Illinois Tool Works by 0.5% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 9,974 shares of the industrial products company’s stock valued at $1,321,000 after acquiring an additional 50 shares during the period. LS Investment Advisors LLC grew its stake in Illinois Tool Works by 5.5% in the first quarter. LS Investment Advisors LLC now owns 35,179 shares of the industrial products company’s stock valued at $4,660,000 after acquiring an additional 1,845 shares during the period. Swiss National Bank grew its stake in Illinois Tool Works by 25.6% in the first quarter. Swiss National Bank now owns 1,119,306 shares of the industrial products company’s stock valued at $148,274,000 after acquiring an additional 228,400 shares during the period. Finally, World Asset Management Inc grew its stake in Illinois Tool Works by 14.9% in the first quarter. World Asset Management Inc now owns 37,569 shares of the industrial products company’s stock valued at $4,977,000 after acquiring an additional 4,861 shares during the period. 74.79% of the stock is owned by hedge funds and other institutional investors.

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In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $150.00, for a total transaction of $979,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by insiders.

ITW has been the subject of a number of research analyst reports. Stifel Nicolaus reissued a “hold” rating and issued a $147.00 target price on shares of Illinois Tool Works in a research note on Wednesday, August 16th. Royal Bank Of Canada upped their price objective on Illinois Tool Works from $141.00 to $143.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 25th. Credit Suisse Group set a $141.00 price objective on Illinois Tool Works and gave the stock a “hold” rating in a research report on Tuesday, July 25th. BidaskClub cut Illinois Tool Works from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $147.00 price objective (up from $136.00) on shares of Illinois Tool Works in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $152.71.

Shares of Illinois Tool Works Inc. (NYSE ITW) opened at 153.23 on Friday. The company’s 50-day moving average price is $144.67 and its 200 day moving average price is $141.19. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $153.35. The company has a market cap of $52.73 billion, a price-to-earnings ratio of 24.79 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 EPS. Equities analysts predict that Illinois Tool Works Inc. will post $6.47 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were paid a dividend of $0.78 per share. The ex-dividend date was Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.04%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s payout ratio is 50.49%.

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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