Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by TI Trust Inc.

TI Trust Inc. decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,835 shares of the industrial products company’s stock after selling 60 shares during the period. Illinois Tool Works comprises 2.7% of TI Trust Inc.’s investment portfolio, making the stock its 8th biggest position. TI Trust Inc.’s holdings in Illinois Tool Works were worth $2,961,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ITW. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Illinois Tool Works by 103,194.6% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 72,134,735 shares of the industrial products company’s stock valued at $18,045,225,000 after buying an additional 72,064,901 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Illinois Tool Works by 106,553.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company’s stock valued at $1,582,902,000 after buying an additional 7,178,474 shares in the last quarter. Norges Bank purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth about $708,259,000. Morgan Stanley increased its stake in shares of Illinois Tool Works by 59.2% during the fourth quarter. Morgan Stanley now owns 4,591,278 shares of the industrial products company’s stock worth $1,011,459,000 after purchasing an additional 1,707,780 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Illinois Tool Works by 4.7% during the first quarter. BlackRock Inc. now owns 22,309,285 shares of the industrial products company’s stock worth $5,431,195,000 after purchasing an additional 997,389 shares in the last quarter. Hedge funds and other institutional investors own 79.56% of the company’s stock.

Illinois Tool Works Trading Up 1.2 %

NYSE:ITW traded up $2.82 on Wednesday, hitting $239.25. The stock had a trading volume of 92,487 shares, compared to its average volume of 1,081,888. The company has a fifty day moving average price of $231.98 and a two-hundred day moving average price of $237.76. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 2.27. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $264.19. The stock has a market cap of $71.99 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 4.45 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.46 by $0.09. Illinois Tool Works had a net margin of 19.55% and a return on equity of 95.68%. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the business posted $2.35 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts expect that Illinois Tool Works Inc. will post 9.68 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, December 29th will be issued a $1.40 dividend. The ex-dividend date is Thursday, December 28th. This represents a $5.60 annualized dividend and a dividend yield of 2.34%. Illinois Tool Works’s dividend payout ratio is currently 54.32%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ITW. Morgan Stanley boosted their target price on shares of Illinois Tool Works from $230.00 to $232.00 and gave the stock an “underweight” rating in a research note on Thursday, August 3rd. Credit Suisse Group boosted their target price on shares of Illinois Tool Works from $281.00 to $292.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Citigroup boosted their target price on shares of Illinois Tool Works from $256.00 to $258.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. JPMorgan Chase & Co. lowered their price target on shares of Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. Finally, Barclays lowered their price target on shares of Illinois Tool Works from $213.00 to $198.00 in a research report on Thursday, September 7th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $238.25.

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.