Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 203,769 shares of the industrial products company’s stock after selling 2,929 shares during the period. Boston Trust Walden Corp owned approximately 0.07% of Illinois Tool Works worth $48,285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Steele Capital Management Inc. increased its holdings in shares of Illinois Tool Works by 4.9% in the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 40 shares during the period. Summit Financial LLC raised its position in Illinois Tool Works by 1.6% during the 4th quarter. Summit Financial LLC now owns 2,601 shares of the industrial products company’s stock worth $685,000 after buying an additional 41 shares during the last quarter. Hanson & Doremus Investment Management lifted its stake in shares of Illinois Tool Works by 4.6% in the 1st quarter. Hanson & Doremus Investment Management now owns 958 shares of the industrial products company’s stock worth $257,000 after acquiring an additional 42 shares during the period. EP Wealth Advisors LLC boosted its holdings in shares of Illinois Tool Works by 1.0% in the first quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock valued at $1,178,000 after acquiring an additional 42 shares in the last quarter. Finally, Catalyst Financial Partners LLC increased its stake in shares of Illinois Tool Works by 2.5% during the fourth quarter. Catalyst Financial Partners LLC now owns 1,767 shares of the industrial products company’s stock worth $463,000 after acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of ITW stock traded up $1.68 during trading hours on Friday, hitting $241.94. The company’s stock had a trading volume of 895,133 shares, compared to its average volume of 1,156,388. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 2.17. The business has a fifty day moving average of $240.80 and a 200-day moving average of $249.64. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The stock has a market cap of $72.19 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 3.80 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the firm earned $2.41 EPS. Illinois Tool Works’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.25 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.48%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, September 30th. Illinois Tool Works’s dividend payout ratio is 59.17%.

Insiders Place Their Bets

In other news, Director David Byron Smith, Jr. acquired 775 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average price of $238.82 per share, with a total value of $185,085.50. Following the completion of the purchase, the director now owns 121,506 shares of the company’s stock, valued at approximately $29,018,062.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Argus raised Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Stifel Nicolaus dropped their price objective on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group reduced their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $250.75.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.