Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Clean Yield Group

Clean Yield Group trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,469 shares of the industrial products company’s stock after selling 365 shares during the period. Clean Yield Group’s holdings in Illinois Tool Works were worth $1,830,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Coastal Capital Group Inc. acquired a new position in Illinois Tool Works in the third quarter worth about $28,000. Rosenberg Matthew Hamilton acquired a new position in Illinois Tool Works in the second quarter worth about $27,000. Old North State Trust LLC acquired a new position in Illinois Tool Works in the third quarter worth about $37,000. Evolution Wealth Advisors LLC grew its stake in Illinois Tool Works by 166.2% in the third quarter. Evolution Wealth Advisors LLC now owns 189 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 118 shares in the last quarter. Finally, Watson Rebecca acquired a new position in Illinois Tool Works in the second quarter worth about $43,000. Institutional investors and hedge funds own 78.12% of the company’s stock.

In related news, SVP Mary Katherine Lawler sold 14,356 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $185.72, for a total transaction of $2,666,196.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lei Zhang Schlitz sold 13,564 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $186.06, for a total value of $2,523,717.84. Following the sale, the executive vice president now directly owns 19,735 shares in the company, valued at approximately $3,671,894.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,879 shares of company stock worth $27,240,677. 0.79% of the stock is owned by corporate insiders.

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on Illinois Tool Works from $162.00 to $167.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 13th. Wells Fargo & Company raised their target price on shares of Illinois Tool Works from $205.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, October 9th. They noted that the move was a valuation call. Barclays assumed coverage on shares of Illinois Tool Works in a report on Tuesday, August 25th. They issued an “equal weight” rating and a $197.00 target price on the stock. Credit Suisse Group raised their target price on shares of Illinois Tool Works from $174.00 to $195.00 in a report on Monday, August 3rd. Finally, Bank of America raised their target price on shares of Illinois Tool Works from $130.00 to $175.00 and gave the stock an “underperform” rating in a report on Monday, August 3rd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $173.69.

Shares of ITW traded up $2.85 during mid-day trading on Friday, reaching $206.64. 1,219,723 shares of the company’s stock traded hands, compared to its average volume of 1,380,735. The business’s 50-day moving average price is $197.01 and its 200-day moving average price is $177.70. The stock has a market capitalization of $65.33 billion, a P/E ratio of 30.34, a price-to-earnings-growth ratio of 6.37 and a beta of 1.15. The company has a debt-to-equity ratio of 3.29, a quick ratio of 2.18 and a current ratio of 2.75. Illinois Tool Works Inc. has a 12 month low of $115.94 and a 12 month high of $207.75.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, July 31st. The industrial products company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.31. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Illinois Tool Works had a return on equity of 81.80% and a net margin of 17.16%. The business’s revenue for the quarter was down 29.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.91 earnings per share. Equities research analysts anticipate that Illinois Tool Works Inc. will post 5.78 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th were issued a dividend of $1.14 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $4.56 annualized dividend and a yield of 2.21%. Illinois Tool Works’s payout ratio is presently 58.84%.

About Illinois Tool Works

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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