Stack Financial Management Inc Has $17.56 Million Position in Illinois Tool Works Inc. (ITW)

Stack Financial Management Inc cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,562 shares of the industrial products company’s stock after selling 2,800 shares during the period. Illinois Tool Works makes up approximately 1.8% of Stack Financial Management Inc’s investment portfolio, making the stock its 22nd largest position. Stack Financial Management Inc’s holdings in Illinois Tool Works were worth $17,557,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Berkshire Asset Management LLC PA raised its position in shares of Illinois Tool Works by 1.0% in the first quarter. Berkshire Asset Management LLC PA now owns 12,566 shares of the industrial products company’s stock valued at $1,665,000 after buying an additional 126 shares in the last quarter. Pinnacle Bank acquired a new position in shares of Illinois Tool Works during the first quarter valued at $195,000. Carderock Capital Management Inc. raised its position in shares of Illinois Tool Works by 24.4% in the first quarter. Carderock Capital Management Inc. now owns 24,727 shares of the industrial products company’s stock valued at $3,276,000 after buying an additional 4,851 shares in the last quarter. Reliance Trust Co. of Delaware raised its position in shares of Illinois Tool Works by 11.4% in the first quarter. Reliance Trust Co. of Delaware now owns 13,178 shares of the industrial products company’s stock valued at $1,745,000 after buying an additional 1,348 shares in the last quarter. Finally, Somerset Trust Co raised its position in shares of Illinois Tool Works by 1.9% in the first quarter. Somerset Trust Co now owns 15,249 shares of the industrial products company’s stock valued at $2,020,000 after buying an additional 285 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Illinois Tool Works Inc. (NYSE ITW) traded up 0.16% during midday trading on Monday, reaching $135.89. 313,932 shares of the company’s stock traded hands. Illinois Tool Works Inc. has a 1-year low of $111.50 and a 1-year high of $150.29. The firm has a market cap of $46.77 billion, a price-to-earnings ratio of 21.99 and a beta of 1.11. The stock’s 50 day moving average price is $142.53 and its 200 day moving average price is $137.77.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the previous year, the company earned $1.46 EPS. Illinois Tool Works’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Illinois Tool Works Inc. will post $6.46 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s payout ratio is presently 42.07%.

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ITW has been the topic of several analyst reports. Royal Bank Of Canada increased their price objective on shares of Illinois Tool Works from $125.00 to $141.00 and gave the company a “sector perform” rating in a report on Tuesday, April 25th. Stifel Nicolaus restated a “hold” rating and issued a $144.00 price objective (up from $140.00) on shares of Illinois Tool Works in a report on Tuesday, April 25th. Barclays PLC increased their price objective on shares of Illinois Tool Works from $130.00 to $141.00 and gave the company an “equal weight” rating in a report on Tuesday, April 25th. Citigroup Inc. increased their price objective on shares of Illinois Tool Works from $143.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Finally, BMO Capital Markets increased their price objective on shares of Illinois Tool Works from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $151.08.

In related news, CFO Michael M. Larsen sold 52,447 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $140.62, for a total transaction of $7,375,097.14. Following the transaction, the chief financial officer now owns 67,383 shares in the company, valued at approximately $9,475,397.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John R. Hartnett sold 11,750 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the transaction, the insider now owns 23,839 shares in the company, valued at approximately $3,455,701.44. The disclosure for this sale can be found here. Insiders have sold a total of 100,664 shares of company stock worth $14,329,625 in the last quarter. 0.90% of the stock is owned by corporate insiders.

Illinois Tool Works Company Profile

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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