Illinois Tool Works Inc. (NYSE:ITW) insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $155.00, for a total value of $1,012,615.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Illinois Tool Works Inc. (NYSE ITW) traded up 1.87% on Tuesday, reaching $158.42. The company had a trading volume of 2,129,268 shares. Illinois Tool Works Inc. has a 12 month low of $111.50 and a 12 month high of $159.36. The stock has a market capitalization of $54.52 billion, a P/E ratio of 25.63 and a beta of 1.12. The firm has a 50-day moving average of $148.07 and a 200-day moving average of $142.44.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, October 23rd. The industrial products company reported $1.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.06. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the company earned $1.50 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts expect that Illinois Tool Works Inc. will post $6.46 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.97%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, September 28th. Illinois Tool Works’s payout ratio is presently 50.49%.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Huntington National Bank increased its position in shares of Illinois Tool Works by 1.9% during the third quarter. Huntington National Bank now owns 317,131 shares of the industrial products company’s stock worth $46,922,000 after acquiring an additional 5,778 shares during the last quarter. Saratoga Research & Investment Management purchased a new stake in shares of Illinois Tool Works during the third quarter worth about $358,000. First Trust Advisors LP increased its position in shares of Illinois Tool Works by 72.8% during the third quarter. First Trust Advisors LP now owns 357,404 shares of the industrial products company’s stock worth $52,881,000 after acquiring an additional 150,570 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of Illinois Tool Works by 9.5% during the third quarter. Raymond James Trust N.A. now owns 15,237 shares of the industrial products company’s stock worth $2,255,000 after acquiring an additional 1,316 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Illinois Tool Works by 16.7% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 20,418 shares of the industrial products company’s stock worth $3,021,000 after acquiring an additional 2,919 shares during the last quarter. 74.73% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on ITW. Morgan Stanley lifted their price target on Illinois Tool Works from $147.00 to $151.00 and gave the stock an “equal weight” rating in a research note on Tuesday. BMO Capital Markets boosted their price objective on Illinois Tool Works from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Tuesday. Credit Suisse Group lowered their price objective on Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday. Argus reissued a “buy” rating and set a $180.00 price objective (up previously from $160.00) on shares of Illinois Tool Works in a research note on Tuesday. Finally, Stifel Nicolaus lowered their price objective on Illinois Tool Works from $162.00 to $158.00 and set a “hold” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Illinois Tool Works has an average rating of “Hold” and a consensus price target of $157.27.

About Illinois Tool Works

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.

Insider Buying and Selling by Quarter for Illinois Tool Works (NYSE:ITW)

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