Park National Corp OH lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,839 shares of the industrial products company’s stock after selling 386 shares during the period. Park National Corp OH’s holdings in Illinois Tool Works were worth $3,702,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Illinois Tool Works by 1,661.3% in the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock valued at $2,559,083,000 after buying an additional 18,221,359 shares in the last quarter. HPM Partners LLC bought a new stake in shares of Illinois Tool Works during the first quarter valued at about $95,987,000. Janus Capital Management LLC boosted its stake in shares of Illinois Tool Works by 19.5% in the first quarter. Janus Capital Management LLC now owns 2,951,426 shares of the industrial products company’s stock valued at $390,967,000 after buying an additional 482,027 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Illinois Tool Works by 58.5% in the first quarter. Prudential Financial Inc. now owns 1,218,246 shares of the industrial products company’s stock valued at $161,380,000 after buying an additional 449,430 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Illinois Tool Works by 3.6% in the first quarter. Wells Fargo & Company MN now owns 8,905,002 shares of the industrial products company’s stock valued at $1,179,646,000 after buying an additional 308,538 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Shares of Illinois Tool Works Inc. (NYSE:ITW) traded up 0.48% during trading on Friday, reaching $136.84. 364,587 shares of the company’s stock were exchanged. The company has a 50 day moving average of $142.70 and a 200 day moving average of $137.72. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $150.29. The firm has a market capitalization of $47.09 billion, a P/E ratio of 22.14 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the prior year, the business posted $1.46 EPS. Illinois Tool Works’s quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts anticipate that Illinois Tool Works Inc. will post $6.46 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.78 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, September 28th. This represents a $3.12 annualized dividend and a dividend yield of 2.29%. Illinois Tool Works’s dividend payout ratio is 42.07%.

TRADEMARK VIOLATION NOTICE: “Park National Corp OH Lowers Position in Illinois Tool Works Inc. (ITW)” was first posted by Daily Political and is owned by of Daily Political. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright law. The original version of this story can be viewed at https://www.dailypolitical.com/2017/08/18/park-national-corp-oh-lowers-position-in-illinois-tool-works-inc-itw.html.

ITW has been the subject of several research reports. Goldman Sachs Group, Inc. (The) raised shares of Illinois Tool Works from a “sell” rating to a “buy” rating and boosted their price objective for the company from $131.00 to $155.00 in a research note on Thursday, June 1st. Morgan Stanley reissued an “equal weight” rating and set a $140.00 price objective (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. BidaskClub cut shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Deutsche Bank AG reissued a “buy” rating and set a $160.00 price objective (up from $140.00) on shares of Illinois Tool Works in a research note on Saturday, April 29th. Finally, BMO Capital Markets reissued a “buy” rating and set a $160.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $151.08.

In other news, CFO Michael M. Larsen sold 52,447 shares of the stock in a transaction on Friday, May 26th. The shares were sold at an average price of $140.62, for a total transaction of $7,375,097.14. Following the transaction, the chief financial officer now owns 67,383 shares in the company, valued at approximately $9,475,397.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $144.00, for a total transaction of $5,251,248.00. Following the transaction, the insider now owns 55,878 shares in the company, valued at approximately $8,046,432. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,664 shares of company stock worth $14,329,625. 0.90% of the stock is currently owned by company insiders.

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.

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:ITW).

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

Receive News & Ratings for Illinois Tool Works Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related companies with MarketBeat.com's FREE daily email newsletter.