HM Payson & Co. cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,481 shares of the industrial products company’s stock after selling 725 shares during the period. HM Payson & Co.’s holdings in Illinois Tool Works were worth $4,066,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Omnia Family Wealth LLC increased its position in shares of Illinois Tool Works by 0.3% during the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 2 shares in the last quarter. Harding Loevner LP acquired a new stake in shares of Illinois Tool Works during the second quarter worth about $115,000. WFG Advisors LP increased its position in shares of Illinois Tool Works by 24.7% during the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 161 shares in the last quarter. Salem Investment Counselors Inc. increased its position in shares of Illinois Tool Works by 1.9% during the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 17 shares in the last quarter. Finally, Atlantic Trust LLC acquired a new stake in shares of Illinois Tool Works during the second quarter worth about $139,000. Institutional investors own 74.71% of the company’s stock.

In other news, insider Steven L. Martindale sold 64,818 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the completion of the sale, the insider now directly owns 95,328 shares in the company, valued at approximately $14,984,608.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Norman D. Jr. Finch purchased 4,986 shares of Illinois Tool Works stock in a transaction dated Wednesday, October 25th. The shares were bought at an average price of $156.34 per share, with a total value of $779,511.24. Following the completion of the transaction, the vice president now owns 4,371 shares in the company, valued at approximately $683,362.14. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 126,506 shares of company stock valued at $19,801,832. Insiders own 0.90% of the company’s stock.

ITW has been the topic of a number of research analyst reports. Argus reiterated a “buy” rating and set a $180.00 target price (up previously from $160.00) on shares of Illinois Tool Works in a research report on Tuesday, October 24th. Credit Suisse Group set a $141.00 target price on Illinois Tool Works and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Citigroup Inc. reissued a “buy” rating and set a $171.00 price target (up previously from $162.00) on shares of Illinois Tool Works in a report on Monday, October 9th. Morgan Stanley raised their price target on Illinois Tool Works from $147.00 to $151.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. Finally, Wells Fargo & Company set a $170.00 price target on Illinois Tool Works and gave the stock a “buy” rating in a report on Monday, October 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Illinois Tool Works has a consensus rating of “Hold” and an average target price of $157.27.

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Shares of Illinois Tool Works Inc. (NYSE ITW) opened at $158.85 on Tuesday. Illinois Tool Works Inc. has a 12-month low of $120.06 and a 12-month high of $159.59. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.98 and a current ratio of 2.41. The stock has a market cap of $54,570.00, a P/E ratio of 24.94, a PEG ratio of 2.35 and a beta of 1.16.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.20. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the firm earned $1.50 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. sell-side analysts anticipate that Illinois Tool Works Inc. will post 6.7 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be given a dividend of $0.78 per share. The ex-dividend date is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.96%. Illinois Tool Works’s payout ratio is 47.85%.

Illinois Tool Works 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.

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

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