Choate Investment Advisors lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,665 shares of the industrial products company’s stock after selling 530 shares during the period. Choate Investment Advisors’ holdings in Illinois Tool Works were worth $1,385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Amalgamated Bank boosted its stake in shares of Illinois Tool Works by 59.1% during the second quarter. Amalgamated Bank now owns 36,048 shares of the industrial products company’s stock valued at $5,164,000 after acquiring an additional 13,390 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Illinois Tool Works by 26.8% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 1,835 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 388 shares during the last quarter. Forbes J M & Co. LLP acquired a new stake in shares of Illinois Tool Works during the second quarter valued at $214,000. BlackRock Inc. boosted its stake in shares of Illinois Tool Works by 5.8% during the second quarter. BlackRock Inc. now owns 20,436,577 shares of the industrial products company’s stock valued at $2,927,540,000 after acquiring an additional 1,118,381 shares during the last quarter. Finally, Bahl & Gaynor Inc. boosted its stake in shares of Illinois Tool Works by 27.8% during the second quarter. Bahl & Gaynor Inc. now owns 774,354 shares of the industrial products company’s stock valued at $94,827,000 after acquiring an additional 168,499 shares during the last quarter. 74.76% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Inc. (NYSE:ITW) opened at 153.07 on Wednesday. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $154.38. The stock has a market capitalization of $52.68 billion, a P/E ratio of 24.77 and a beta of 1.12. The company’s 50-day moving average price is $145.40 and its 200 day moving average price is $141.47.

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 analysts’ consensus estimates 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 firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were paid a $0.78 dividend. 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%.

In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $150.00, for a total value of $979,950.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

A number of research firms recently commented on ITW. Zacks Investment Research lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Morgan Stanley reaffirmed 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. Stifel Nicolaus reaffirmed a “hold” rating and set a $147.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, August 16th. BMO Capital Markets reaffirmed a “buy” rating and set a $160.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 20th. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $153.87.

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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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