Clean Yield Group reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,379 shares of the company’s stock after selling 325 shares during the period. Illinois Tool Works makes up 1.7% of Clean Yield Group’s investment portfolio, making the stock its 17th largest position. Clean Yield Group’s holdings in Illinois Tool Works were worth $3,893,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of ITW. BlackRock Institutional Trust Company N.A. raised its stake in Illinois Tool Works by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 8,872,362 shares of the company’s stock worth $908,885,000 after buying an additional 152,580 shares during the period. Geode Capital Management LLC raised its stake in Illinois Tool Works by 5.4% in the first quarter. Geode Capital Management LLC now owns 2,680,001 shares of the company’s stock worth $273,988,000 after buying an additional 136,475 shares during the period. BlackRock Group LTD raised its stake in Illinois Tool Works by 2.7% in the first quarter. BlackRock Group LTD now owns 2,673,829 shares of the company’s stock worth $273,907,000 after buying an additional 71,180 shares during the period. Legal & General Group Plc raised its stake in Illinois Tool Works by 1.9% in the first quarter. Legal & General Group Plc now owns 1,445,918 shares of the company’s stock worth $148,120,000 after buying an additional 26,457 shares during the period. Finally, Thomaspartners Inc. raised its stake in Illinois Tool Works by 1.8% in the first quarter. Thomaspartners Inc. now owns 1,391,717 shares of the company’s stock worth $142,567,000 after buying an additional 25,150 shares during the period. Institutional investors and hedge funds own 74.90% of the company’s stock.
Shares of Illinois Tool Works Inc. (NYSE:ITW) traded down 0.81% during mid-day trading on Thursday, hitting $119.04. The stock had a trading volume of 1,515,060 shares. Illinois Tool Works Inc. has a 12-month low of $79.15 and a 12-month high of $123.50. The company’s 50 day moving average price is $118.73 and its 200 day moving average price is $109.38. The stock has a market cap of $42.25 billion, a P/E ratio of 22.17 and a beta of 1.15.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, July 20th. The company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.06. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.41 billion. Illinois Tool Works had a net margin of 14.65% and a return on equity of 38.15%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.30 EPS. Equities research analysts predict that Illinois Tool Works Inc. will post $5.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Friday, September 30th will be issued a dividend of $0.65 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, September 28th. This represents a $2.60 annualized dividend and a dividend yield of 2.18%. Illinois Tool Works’s payout ratio is presently 40.97%.
A number of equities research analysts have recently issued reports on ITW shares. Credit Suisse Group AG set a $114.00 price target on Illinois Tool Works and gave the company a “hold” rating in a research report on Thursday, July 21st. Royal Bank Of Canada upped their price target on Illinois Tool Works from $101.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 21st. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Illinois Tool Works in a research report on Tuesday, June 7th. Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Monday, July 11th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $102.00 price objective on shares of Illinois Tool Works in a research report on Thursday, August 25th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Illinois Tool Works has a consensus rating of “Buy” and an average price target of $108.43.
In related news, insider Sundaram Nagarajan sold 4,560 shares of Illinois Tool Works stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $119.50, for a total transaction of $544,920.00. Following the transaction, the insider now owns 24,777 shares in the company, valued at approximately $2,960,851.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John R. Hartnett sold 7,500 shares of Illinois Tool Works stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $114.08, for a total transaction of $855,600.00. Following the transaction, the insider now owns 16,399 shares in the company, valued at approximately $1,870,797.92. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.
About Illinois Tool Works
Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.
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