First National Bank of Mount Dora Trust Investment Services Reduces Position in Illinois Tool Works Inc. (ITW)

First National Bank of Mount Dora Trust Investment Services cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,962 shares of the industrial products company’s stock after selling 107 shares during the quarter. Illinois Tool Works comprises 2.1% of First National Bank of Mount Dora Trust Investment Services’ investment portfolio, making the stock its 13th biggest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Illinois Tool Works were worth $4,874,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in Illinois Tool Works by 4.9% during the third quarter. JPMorgan Chase & Co. now owns 5,849,090 shares of the industrial products company’s stock valued at $825,423,000 after buying an additional 274,579 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Illinois Tool Works by 20.9% in the third quarter. Bank of New York Mellon Corp now owns 4,803,640 shares of the industrial products company’s stock worth $677,888,000 after purchasing an additional 830,998 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Illinois Tool Works by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 855,289 shares of the industrial products company’s stock worth $120,702,000 after purchasing an additional 4,005 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Illinois Tool Works by 4.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,091 shares of the industrial products company’s stock worth $7,643,000 after purchasing an additional 2,391 shares during the last quarter. Finally, Royce & Associates LP raised its stake in shares of Illinois Tool Works by 3.6% in the third quarter. Royce & Associates LP now owns 57,500 shares of the industrial products company’s stock worth $8,114,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 78.65% of the company’s stock.

Several analysts recently commented on ITW shares. Credit Suisse Group reaffirmed a “hold” rating on shares of Illinois Tool Works in a report on Friday, February 1st. JPMorgan Chase & Co. lowered Illinois Tool Works from a “neutral” rating to an “underweight” rating and set a $120.00 price objective for the company. in a report on Thursday, January 10th. Deutsche Bank reaffirmed a “hold” rating on shares of Illinois Tool Works in a report on Monday, December 3rd. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $128.00 to $124.00 in a report on Tuesday, February 5th. Finally, Citigroup lowered Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $144.00 price objective for the company. in a report on Monday, January 14th. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company. Illinois Tool Works presently has an average rating of “Hold” and an average target price of $136.60.

NYSE:ITW traded down $0.38 during mid-day trading on Tuesday, hitting $147.96. 12,658 shares of the company traded hands, compared to its average volume of 1,465,200. Illinois Tool Works Inc. has a one year low of $117.75 and a one year high of $160.21. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.26 and a current ratio of 1.63. The firm has a market capitalization of $48.50 billion, a PE ratio of 19.46, a P/E/G ratio of 2.34 and a beta of 1.19.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, February 1st. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.01. Illinois Tool Works had a return on equity of 69.48% and a net margin of 17.35%. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the previous year, the company posted $1.70 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts forecast that Illinois Tool Works Inc. will post 7.96 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Friday, March 29th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, March 28th. Illinois Tool Works’s dividend payout ratio (DPR) is 52.63%.

In other news, EVP Juan Valls sold 52,265 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $142.41, for a total value of $7,443,058.65. Following the completion of the transaction, the executive vice president now owns 78,620 shares of the company’s stock, valued at $11,196,274.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 71,927 shares of the company’s stock, valued at approximately $10,486,237.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,970 shares of company stock valued at $18,348,472. Corporate insiders own 0.87% of the company’s stock.

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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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