Illinois Tool Works Inc. (ITW) Shares Bought by Graves Light Private Wealth Management Inc.

Graves Light Private Wealth Management Inc. boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 47.6% in the 1st quarter, Holdings Channel reports. The firm owned 2,412 shares of the industrial products company’s stock after buying an additional 778 shares during the quarter. Graves Light Private Wealth Management Inc.’s holdings in Illinois Tool Works were worth $346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the stock. Farmers Trust Co. raised its stake in shares of Illinois Tool Works by 4.0% in the 1st quarter. Farmers Trust Co. now owns 1,808 shares of the industrial products company’s stock valued at $260,000 after buying an additional 69 shares in the last quarter. Kaizen Advisory LLC raised its stake in shares of Illinois Tool Works by 9.5% in the 4th quarter. Kaizen Advisory LLC now owns 819 shares of the industrial products company’s stock valued at $104,000 after buying an additional 71 shares in the last quarter. Exeter Financial LLC raised its stake in shares of Illinois Tool Works by 1.0% in the 1st quarter. Exeter Financial LLC now owns 7,363 shares of the industrial products company’s stock valued at $1,057,000 after buying an additional 71 shares in the last quarter. National Asset Management Inc. raised its stake in shares of Illinois Tool Works by 3.5% in the 4th quarter. National Asset Management Inc. now owns 2,284 shares of the industrial products company’s stock valued at $290,000 after buying an additional 77 shares in the last quarter. Finally, Indiana Trust & Investment Management CO raised its stake in shares of Illinois Tool Works by 3.4% in the 4th quarter. Indiana Trust & Investment Management CO now owns 2,421 shares of the industrial products company’s stock valued at $307,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 78.67% of the company’s stock.

Shares of NYSE ITW opened at $151.69 on Thursday. The stock has a market capitalization of $49.36 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 2.46 and a beta of 1.19. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.26 and a current ratio of 1.63. Illinois Tool Works Inc. has a 1 year low of $117.75 and a 1 year high of $160.21.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, February 1st. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.01. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a net margin of 17.35% and a return on equity of 69.48%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.70 EPS. Analysts expect that Illinois Tool Works Inc. will post 7.96 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 29th were given a $1.00 dividend. The ex-dividend date was Thursday, March 28th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.64%. Illinois Tool Works’s dividend payout ratio is 52.63%.

ITW has been the subject of a number of recent research reports. BMO Capital Markets dropped their price objective on shares of Illinois Tool Works from $145.00 to $140.00 and set a “market perform” rating for the company in a research note on Monday, February 25th. Morgan Stanley cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $131.00 to $115.00 in a research note on Tuesday, December 18th. Citigroup cut shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $144.00 target price for the company. in a research report on Monday, January 14th. Credit Suisse Group reiterated a “hold” rating and set a $124.00 target price on shares of Illinois Tool Works in a research report on Tuesday, January 22nd. Finally, Deutsche Bank cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating and dropped their target price for the stock from $133.00 to $125.00 in a research report on Sunday, December 16th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $136.60.

In other Illinois Tool Works news, EVP Juan Valls sold 52,265 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $142.41, for a total transaction of $7,443,058.65. Following the sale, the executive vice president now directly owns 78,620 shares in the company, valued at approximately $11,196,274.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.79, for a total transaction of $6,349,737.66. Following the sale, the insider now owns 71,927 shares in the company, valued at $10,486,237.33. The disclosure for this sale can be found here. Insiders sold a total of 128,970 shares of company stock worth $18,348,472 over the last quarter. 0.87% of the stock is currently owned by corporate insiders.

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Illinois Tool Works Company 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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