Trust Co. of Vermont Reduces Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Trust Co. of Vermont lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,039 shares of the industrial products company’s stock after selling 663 shares during the quarter. Trust Co. of Vermont’s holdings in Illinois Tool Works were worth $9,658,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ITW. Thoroughbred Financial Services LLC boosted its holdings in shares of Illinois Tool Works by 15,116.7% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 661,166 shares of the industrial products company’s stock valued at $66,117,000 after acquiring an additional 656,821 shares during the last quarter. Ellis Investment Partners LLC boosted its holdings in shares of Illinois Tool Works by 14,261.0% during the 1st quarter. Ellis Investment Partners LLC now owns 390,476 shares of the industrial products company’s stock valued at $390,000 after acquiring an additional 387,757 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Illinois Tool Works by 144.7% during the 1st quarter. First Trust Advisors LP now owns 540,743 shares of the industrial products company’s stock valued at $77,613,000 after acquiring an additional 319,752 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Illinois Tool Works by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 3,925,119 shares of the industrial products company’s stock valued at $496,400,000 after acquiring an additional 227,625 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Illinois Tool Works during the 1st quarter valued at about $21,156,000. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

In other Illinois Tool Works news, EVP Steven L. Martindale sold 48,622 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $155.88, for a total transaction of $7,579,197.36. Following the sale, the executive vice president now owns 84,546 shares in the company, valued at approximately $13,179,030.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael R. Zimmerman sold 9,325 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $160.00, for a total transaction of $1,492,000.00. Following the sale, the insider now owns 16,315 shares in the company, valued at approximately $2,610,400. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,878 shares of company stock worth $11,313,386. 0.87% of the stock is owned by company insiders.

A number of analysts have recently issued reports on the stock. Morgan Stanley set a $134.00 price target on shares of Illinois Tool Works and gave the company a “sell” rating in a report on Friday, April 26th. Zacks Investment Research downgraded shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 price objective on the stock. in a report on Tuesday, July 9th. Northcoast Research downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price objective on the stock. in a report on Wednesday, June 26th. Argus raised their price objective on shares of Illinois Tool Works from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. raised shares of Illinois Tool Works from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $120.00 to $144.00 in a report on Friday, April 26th. Five investment analysts have rated the stock with a sell rating, ten 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 $142.33.

Shares of ITW traded up $2.02 on Tuesday, reaching $148.70. The company’s stock had a trading volume of 95,634 shares, compared to its average volume of 1,468,706. The company has a quick ratio of 2.30, a current ratio of 2.87 and a debt-to-equity ratio of 2.52. The stock has a market capitalization of $47.95 billion, a PE ratio of 19.55, a P/E/G ratio of 2.54 and a beta of 1.23. The company’s 50 day moving average price is $151.26. Illinois Tool Works Inc. has a 12-month low of $117.75 and a 12-month high of $160.78.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.03. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the firm posted $1.97 earnings per share. The firm’s revenue was down 5.8% compared to the same quarter last year. As a group, research analysts expect that Illinois Tool Works Inc. will post 7.74 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.07 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, September 27th. This represents a $4.28 dividend on an annualized basis and a yield of 2.88%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.63%.

Illinois Tool Works 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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