Illinois Tool Works Inc. (ITW) Position Lessened by Independent Advisor Alliance

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Independent Advisor Alliance lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,001 shares of the industrial products company’s stock after selling 430 shares during the period. Independent Advisor Alliance’s holdings in Illinois Tool Works were worth $861,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of Illinois Tool Works by 4.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,849,090 shares of the industrial products company’s stock valued at $825,423,000 after purchasing an additional 274,579 shares during the period. Morgan Stanley lifted its stake in shares of Illinois Tool Works by 11.8% in the 3rd quarter. Morgan Stanley now owns 2,397,243 shares of the industrial products company’s stock valued at $338,300,000 after purchasing an additional 253,803 shares during the period. Vanguard Group Inc lifted its stake in shares of Illinois Tool Works by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 25,617,374 shares of the industrial products company’s stock valued at $3,615,123,000 after purchasing an additional 317,172 shares during the period. Federated Investors Inc. PA lifted its stake in shares of Illinois Tool Works by 75.1% in the 3rd quarter. Federated Investors Inc. PA now owns 18,365 shares of the industrial products company’s stock valued at $2,592,000 after purchasing an additional 7,879 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Illinois Tool Works by 10.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 16,863 shares of the industrial products company’s stock valued at $2,136,000 after purchasing an additional 1,652 shares during the period. 78.58% of the stock is currently owned by institutional investors.

Illinois Tool Works stock opened at $150.90 on Friday. The firm has a market capitalization of $49.12 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 2.47 and a beta of 1.21. Illinois Tool Works Inc. has a 12 month low of $117.75 and a 12 month high of $158.69. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.53 and a quick ratio of 1.19.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.81 EPS for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.01. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.64 billion. Illinois Tool Works had a return on equity of 72.74% and a net margin of 17.21%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 7.94 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Thursday, June 27th. Illinois Tool Works’s payout ratio is 52.63%.

In other Illinois Tool Works news, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of Illinois Tool Works stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.79, for a total value of $6,349,737.66. Following the completion of the sale, the insider now owns 71,927 shares of the company’s stock, valued at approximately $10,486,237.33. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John R. Hartnett sold 14,323 shares of Illinois Tool Works stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $153.55, for a total value of $2,199,296.65. Following the completion of the sale, the executive vice president now directly owns 31,695 shares of the company’s stock, valued at approximately $4,866,767.25. The disclosure for this sale can be found here. In the last three months, insiders sold 110,142 shares of company stock valued at $15,992,093. Corporate insiders own 0.87% of the company’s stock.

A number of research firms have recently commented on ITW. Credit Suisse Group restated a “hold” rating on shares of Illinois Tool Works in a research note on Friday, February 1st. Citigroup set a $161.00 target price on Illinois Tool Works and gave the company a “hold” rating in a research note on Friday, April 26th. Argus raised their target price on Illinois Tool Works from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Zacks Investment Research cut Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Monday, April 8th. Finally, Morgan Stanley set a $134.00 price objective on Illinois Tool Works and gave the company a “sell” rating in a research note on Friday, April 26th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $142.59.

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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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