Ameriprise Financial Inc. reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 751,623 shares of the industrial products company’s stock after selling 53,342 shares during the quarter. Ameriprise Financial Inc. owned 0.22% of Illinois Tool Works worth $107,603,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Omnia Family Wealth LLC lifted its position in shares of Illinois Tool Works by 0.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after buying an additional 2 shares during the last quarter. Private Vista LLC raised its position in Illinois Tool Works by 13,697.3% in the second quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 277,508 shares during the last quarter. TrimTabs Asset Management LLC raised its position in Illinois Tool Works by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 416 shares during the last quarter. FNY Partners Fund LP bought a new position in Illinois Tool Works in the first quarter valued at about $132,000. Finally, Washington Trust Bank raised its position in 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 purchasing an additional 11 shares during the last quarter. Institutional investors and hedge funds own 74.76% of the company’s stock.

Several equities analysts have commented on ITW shares. BidaskClub downgraded Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 target price (up from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Stifel Nicolaus reiterated a “hold” rating and issued a $147.00 target price on shares of Illinois Tool Works in a research report on Friday, July 14th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $160.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $152.71.

In other news, insider John R. Hartnett sold 6,533 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $150.00, for a total value of $979,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 152.82 on Monday. The stock has a 50 day moving average price of $145.40 and a 200 day moving average price of $141.47. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $154.38. The firm has a market cap of $52.59 billion, a PE ratio of 24.73 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.03. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the previous year, the company posted $1.46 EPS. Illinois Tool Works’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts expect that Illinois Tool Works Inc. will post $6.47 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Thursday, September 28th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s payout ratio is 50.49%.

ILLEGAL ACTIVITY NOTICE: “Illinois Tool Works Inc. (ITW) Position Decreased by Ameriprise Financial Inc.” was originally published by Daily Political and is the sole property of of Daily Political. If you are reading this news story on another publication, it was stolen and reposted in violation of international trademark and copyright legislation. The correct version of this news story can be read at https://www.dailypolitical.com/2017/10/16/illinois-tool-works-inc-itw-position-decreased-by-ameriprise-financial-inc.html.

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.

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.