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Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Private Trust Co. NA

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Private Trust Co. NA trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITWGet Rating) by 24.6% during the 1st quarter, Holdings Channel reports. The fund owned 3,557 shares of the industrial products company’s stock after selling 1,159 shares during the quarter. Private Trust Co. NA’s holdings in Illinois Tool Works were worth $745,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Illinois Tool Works by 6.6% during the fourth quarter. BlackRock Inc. now owns 21,540,015 shares of the industrial products company’s stock worth $5,316,074,000 after acquiring an additional 1,340,520 shares during the period. State Street Corp grew its holdings in Illinois Tool Works by 1.6% in the fourth quarter. State Street Corp now owns 13,032,994 shares of the industrial products company’s stock valued at $3,232,221,000 after purchasing an additional 210,839 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Illinois Tool Works by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,576,460 shares of the industrial products company’s stock valued at $1,376,270,000 after purchasing an additional 48,388 shares during the period. Geode Capital Management LLC grew its holdings in Illinois Tool Works by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,048,788 shares of the industrial products company’s stock valued at $1,242,988,000 after purchasing an additional 104,469 shares during the period. Finally, Norges Bank acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $744,840,000. 79.03% of the stock is currently owned by hedge funds and other institutional investors.

In other Illinois Tool Works news, EVP Lei Zhang Schlitz sold 1,000 shares of Illinois Tool Works stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $205.34, for a total value of $205,340.00. Following the sale, the executive vice president now owns 7,803 shares in the company, valued at $1,602,268.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is owned by insiders.

NYSE:ITW opened at $181.38 on Thursday. Illinois Tool Works Inc. has a 52 week low of $177.33 and a 52 week high of $249.81. The company has a quick ratio of 1.24, a current ratio of 1.73 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $56.49 billion, a P/E ratio of 21.31, a P/E/G ratio of 1.98 and a beta of 1.07. The stock’s fifty day moving average is $200.89 and its two-hundred day moving average is $217.20.

Illinois Tool Works (NYSE:ITWGet Rating) last posted its earnings results on Tuesday, May 3rd. The industrial products company reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.04. Illinois Tool Works had a return on equity of 72.57% and a net margin of 18.08%. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the business earned $2.11 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 9.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 14th. Shareholders of record on Thursday, June 30th will be given a $1.22 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $4.88 dividend on an annualized basis and a yield of 2.69%. Illinois Tool Works’s dividend payout ratio is currently 57.34%.

Several equities analysts have recently weighed in on ITW shares. UBS Group decreased their target price on Illinois Tool Works to $243.00 and set a “na” rating on the stock in a research report on Wednesday, May 18th. Morgan Stanley decreased their target price on Illinois Tool Works from $187.00 to $182.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 31st. StockNews.com started coverage on Illinois Tool Works in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upgraded Illinois Tool Works from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $262.00 to $255.00 in a research report on Monday, March 28th. Finally, Barclays reduced their price objective on Illinois Tool Works from $192.00 to $180.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $230.55.

Illinois Tool Works Profile (Get Rating)

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

See Also

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITWGet Rating).

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



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