Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,885 shares of the industrial products company’s stock after selling 309 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Illinois Tool Works were worth $608,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP raised its stake in Illinois Tool Works by 25.1% during the third quarter. Allworth Financial LP now owns 349 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 70 shares during the period. Smith Shellnut Wilson LLC ADV raised its stake in Illinois Tool Works by 3.8% during the second quarter. Smith Shellnut Wilson LLC ADV now owns 2,014 shares of the industrial products company’s stock worth $304,000 after purchasing an additional 73 shares during the period. Valeo Financial Advisors LLC raised its stake in Illinois Tool Works by 10.5% during the second quarter. Valeo Financial Advisors LLC now owns 788 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 75 shares during the period. Grimes & Company Inc. raised its stake in Illinois Tool Works by 1.0% during the second quarter. Grimes & Company Inc. now owns 8,003 shares of the industrial products company’s stock worth $1,207,000 after purchasing an additional 83 shares during the period. Finally, Cornerstone Advisors Inc. raised its stake in Illinois Tool Works by 11.2% during the second quarter. Cornerstone Advisors Inc. now owns 836 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 77.46% of the company’s stock.

A number of equities analysts have commented on the stock. Credit Suisse Group lifted their target price on shares of Illinois Tool Works from $124.00 to $152.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Zacks Investment Research downgraded shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 target price on the stock. in a research note on Tuesday, July 9th. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $143.00 to $154.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Goldman Sachs Group downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 target price on the stock. in a research note on Monday, September 23rd. They noted that the move was a valuation call. Finally, UBS Group lifted their target price on shares of Illinois Tool Works from $150.00 to $154.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $142.44.

In other news, insider Michael R. Zimmerman sold 9,325 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $160.00, for a total value of $1,492,000.00. Following the sale, the insider now directly owns 16,315 shares of the company’s stock, valued at approximately $2,610,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven L. Martindale sold 48,622 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $155.88, for a total transaction of $7,579,197.36. Following the completion of the sale, the executive vice president now directly owns 84,546 shares in the company, valued at $13,179,030.48. The disclosure for this sale can be found here. Insiders sold a total of 158,458 shares of company stock worth $25,172,163 over the last three months. Insiders own 0.87% of the company’s stock.

Shares of Illinois Tool Works stock traded up $1.79 on Wednesday, reaching $148.19. The company had a trading volume of 691,907 shares, compared to its average volume of 1,316,369. The firm’s 50 day moving average price is $152.20 and its two-hundred day moving average price is $150.93. The firm has a market cap of $48.59 billion, a PE ratio of 19.50, a PEG ratio of 2.68 and a beta of 1.22. Illinois Tool Works Inc. has a 52-week low of $117.75 and a 52-week high of $161.71. The company has a debt-to-equity ratio of 2.52, a quick ratio of 2.30 and a current ratio of 2.87.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, July 26th. The industrial products company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.03. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.73 billion. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. The business’s revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.97 EPS. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 7.69 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.89%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, September 27th. Illinois Tool Works’s payout ratio is 56.32%.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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

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