Breton Hill Capital Ltd. lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 7.0% during the second quarter, Holdings Channel reports. The institutional investor owned 7,704 shares of the industrial products company’s stock after selling 579 shares during the period. Breton Hill Capital Ltd.’s holdings in Illinois Tool Works were worth $1,104,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITW. Hudock Capital Group LLC raised its position in shares of Illinois Tool Works by 0.6% in the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock valued at $139,000 after buying an additional 6 shares in the last quarter. Washington Trust Bank raised its position in shares of Illinois Tool Works by 1.1% in the second quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock valued at $140,000 after buying an additional 11 shares in the last quarter. Trust Co. of Virginia VA raised its position in shares of Illinois Tool Works by 0.4% in the first quarter. Trust Co. of Virginia VA now owns 3,865 shares of the industrial products company’s stock valued at $512,000 after buying an additional 15 shares in the last quarter. Marietta Wealth Management LLC raised its position in shares of Illinois Tool Works by 0.8% in the first quarter. Marietta Wealth Management LLC now owns 3,409 shares of the industrial products company’s stock valued at $452,000 after buying an additional 26 shares in the last quarter. Finally, CENTRAL TRUST Co raised its position in shares of Illinois Tool Works by 0.4% in the second quarter. CENTRAL TRUST Co now owns 6,767 shares of the industrial products company’s stock valued at $970,000 after buying an additional 26 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Shares of Illinois Tool Works Inc. (NYSE ITW) traded up 0.65% during mid-day trading on Friday, hitting $138.36. The stock had a trading volume of 964,291 shares. The stock’s 50-day moving average is $143.35 and its 200 day moving average is $137.43. Illinois Tool Works Inc. has a 1-year low of $111.50 and a 1-year high of $150.29. The firm has a market capitalization of $47.62 billion, a price-to-earnings ratio of 22.39 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the prior year, the firm posted $1.46 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that Illinois Tool Works Inc. will post $6.46 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be paid a $0.78 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio is presently 42.07%.

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A number of analysts have weighed in on ITW shares. Zacks Investment Research downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Morgan Stanley reiterated an “equal weight” rating and set a $140.00 price target (up from $136.00) on shares of Illinois Tool Works in a report on Monday, July 10th. Citigroup Inc. increased their price target on Illinois Tool Works from $143.00 to $161.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Barclays PLC increased their price target on Illinois Tool Works from $123.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $145.00 price target on shares of Illinois Tool Works in a report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $152.67.

In related news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $144.00, for a total value of $5,251,248.00. Following the completion of the transaction, the insider now directly owns 55,878 shares of the company’s stock, valued at $8,046,432. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John R. Hartnett sold 11,750 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the completion of the transaction, the insider now directly owns 23,839 shares of the company’s stock, valued at $3,455,701.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,664 shares of company stock valued at $14,329,625. 0.90% of the stock is 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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