Bank of Hawaii lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,025 shares of the industrial products company’s stock after selling 295 shares during the period. Bank of Hawaii’s holdings in Illinois Tool Works were worth $3,580,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new position in Illinois Tool Works during the fourth quarter valued at about $2,027,000. Perigon Wealth Management LLC raised its position in Illinois Tool Works by 20.3% in the fourth quarter. Perigon Wealth Management LLC now owns 1,481 shares of the industrial products company’s stock valued at $199,000 after buying an additional 250 shares during the last quarter. HighPoint Advisor Group LLC raised its position in Illinois Tool Works by 0.4% in the fourth quarter. HighPoint Advisor Group LLC now owns 8,947 shares of the industrial products company’s stock valued at $1,207,000 after buying an additional 33 shares during the last quarter. Teachers Advisors LLC raised its position in Illinois Tool Works by 4.5% in the fourth quarter. Teachers Advisors LLC now owns 905,590 shares of the industrial products company’s stock valued at $110,899,000 after buying an additional 39,223 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new position in Illinois Tool Works during the fourth quarter valued at about $2,807,000. 75.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Illinois Tool Works Inc. (NYSE ITW) opened at 146.21 on Tuesday. The firm has a 50-day moving average price of $142.60 and a 200-day moving average price of $133.40. Illinois Tool Works Inc. has a 52-week low of $109.86 and a 52-week high of $150.29. The firm has a market cap of $50.51 billion, a price-to-earnings ratio of 24.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, April 24th. The industrial products company reported $1.54 EPS for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.09. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Illinois Tool Works had a return on equity of 45.02% and a net margin of 15.24%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share. Analysts predict that Illinois Tool Works Inc. will post $6.38 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Wednesday, June 28th. Illinois Tool Works’s dividend payout ratio is presently 43.70%.

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ITW has been the topic of several research reports. Royal Bank Of Canada reissued a “hold” rating and set a $125.00 target price on shares of Illinois Tool Works in a research note on Friday, March 24th. Stifel Nicolaus lowered Illinois Tool Works from a “buy” rating to a “hold” rating and increased their target price for the stock from $135.00 to $140.00 in a research note on Monday, March 27th. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $148.00 target price on the stock in a research note on Wednesday, March 29th. Jefferies Group LLC reissued a “buy” rating and set a $155.00 target price (up previously from $145.00) on shares of Illinois Tool Works in a research note on Tuesday, April 11th. Finally, Credit Suisse Group set a $135.00 target price on Illinois Tool Works and gave the stock a “hold” rating in a research note on Wednesday, April 12th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Illinois Tool Works has an average rating of “Buy” and an average price target of $148.69.

In related news, insider John R. Hartnett sold 11,750 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $144.96, for a total value of $1,703,280.00. Following the transaction, the insider now owns 23,839 shares in the company, valued at $3,455,701.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ernest Scott Santi sold 101,297 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $138.03, for a total value of $13,982,024.91. Following the completion of the transaction, the chief executive officer now owns 191,142 shares in the company, valued at approximately $26,383,330.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,850 shares of company stock worth $30,945,971. 0.90% of the stock is currently owned by insiders.

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.

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

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