Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Community Bank N.A.

Community Bank N.A. lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,546 shares of the industrial products company’s stock after selling 349 shares during the period. Community Bank N.A.’s holdings in Illinois Tool Works were worth $4,117,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Illinois Tool Works by 5.7% during the 1st quarter. BlackRock Inc. now owns 21,674,615 shares of the industrial products company’s stock valued at $3,080,396,000 after buying an additional 1,170,810 shares during the period. Geode Capital Management LLC boosted its position in Illinois Tool Works by 4.0% during the 1st quarter. Geode Capital Management LLC now owns 4,913,829 shares of the industrial products company’s stock valued at $697,319,000 after purchasing an additional 190,420 shares during the period. Capital World Investors raised its stake in Illinois Tool Works by 28.5% during the 1st quarter. Capital World Investors now owns 3,784,246 shares of the industrial products company’s stock valued at $537,817,000 after acquiring an additional 840,000 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Illinois Tool Works by 2.4% in the 1st quarter. Legal & General Group Plc now owns 2,299,050 shares of the industrial products company’s stock worth $326,941,000 after buying an additional 53,913 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of Illinois Tool Works by 28.7% during the first quarter. Nuveen Asset Management LLC now owns 1,596,624 shares of the industrial products company’s stock worth $226,913,000 after purchasing an additional 355,607 shares during the period. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have weighed in on ITW shares. Morgan Stanley cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $165.00 to $156.00 in a research report on Monday, July 13th. Gordon Haskett lowered Illinois Tool Works from a “buy” rating to a “hold” rating and set a $170.00 price objective on the stock. in a research report on Friday, May 8th. Robert W. Baird raised their price objective on Illinois Tool Works from $138.00 to $156.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Credit Suisse Group dropped their price target on Illinois Tool Works from $151.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Finally, Wells Fargo & Co reduced their price target on Illinois Tool Works from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, April 16th. Three investment 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’s stock. Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $160.81.

In related news, CEO Ernest Scott Santi acquired 6,300 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was purchased at an average cost of $158.42 per share, with a total value of $998,046.00. Following the completion of the acquisition, the chief executive officer now directly owns 141,994 shares of the company’s stock, valued at $22,494,689.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard H. Lenny acquired 1,575 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were bought at an average cost of $159.19 per share, with a total value of $250,724.25. The disclosure for this purchase can be found here. Insiders own 0.79% of the company’s stock.

Shares of Illinois Tool Works stock traded down $0.68 on Friday, reaching $184.99. 1,234,651 shares of the company traded hands, compared to its average volume of 939,059. Illinois Tool Works Inc. has a 52 week low of $115.94 and a 52 week high of $190.85. The company has a 50 day moving average of $175.28 and a 200 day moving average of $168.07. The firm has a market capitalization of $58.66 billion, a PE ratio of 23.99, a PEG ratio of 4.65 and a beta of 1.16. The company has a debt-to-equity ratio of 3.37, a current ratio of 2.71 and a quick ratio of 2.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, July 31st. The industrial products company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.31. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Illinois Tool Works had a net margin of 18.06% and a return on equity of 87.33%. The business’s quarterly revenue was down 29.0% on a year-over-year basis. During the same quarter last year, the company posted $1.91 EPS. As a group, analysts anticipate that Illinois Tool Works Inc. will post 5.27 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Monday, June 29th. Illinois Tool Works’s payout ratio is 55.23%.

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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