Greenleaf Trust Has $613,000 Position in Illinois Tool Works Inc. (ITW)

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Greenleaf Trust boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 4.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 4,270 shares of the industrial products company’s stock after acquiring an additional 182 shares during the quarter. Greenleaf Trust’s holdings in Illinois Tool Works were worth $613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. HighPoint Advisor Group LLC increased its position in shares of Illinois Tool Works by 15.0% during the 1st quarter. HighPoint Advisor Group LLC now owns 13,274 shares of the industrial products company’s stock valued at $2,012,000 after purchasing an additional 1,730 shares during the period. Todd Asset Management LLC increased its position in shares of Illinois Tool Works by 4.3% during the 1st quarter. Todd Asset Management LLC now owns 246,174 shares of the industrial products company’s stock valued at $35,334,000 after purchasing an additional 10,229 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Illinois Tool Works by 9.5% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 117,910 shares of the industrial products company’s stock valued at $16,924,000 after purchasing an additional 10,242 shares during the period. Sentry Investment Management LLC increased its position in shares of Illinois Tool Works by 83.4% during the 1st quarter. Sentry Investment Management LLC now owns 35,835 shares of the industrial products company’s stock valued at $5,143,000 after purchasing an additional 16,292 shares during the period. Finally, TD Asset Management Inc. increased its position in shares of Illinois Tool Works by 3.2% during the 1st quarter. TD Asset Management Inc. now owns 234,005 shares of the industrial products company’s stock valued at $33,587,000 after purchasing an additional 7,220 shares during the period. Hedge funds and other institutional investors own 77.65% of the company’s stock.

ITW has been the topic of several research analyst reports. Credit Suisse Group reiterated a “hold” rating on shares of Illinois Tool Works in a research report on Friday, February 1st. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $128.00 to $124.00 in a research report on Tuesday, February 5th. BMO Capital Markets lowered their price target on Illinois Tool Works from $145.00 to $140.00 and set a “market perform” rating on the stock in a research report on Monday, February 25th. Zacks Investment Research cut Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus lifted their price target on Illinois Tool Works from $137.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $142.59.

ITW opened at $149.96 on Thursday. The firm has a market cap of $49.26 billion, a PE ratio of 19.73, a P/E/G ratio of 2.47 and a beta of 1.21. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.53 and a quick ratio of 1.19. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $158.69.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.01. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.64 billion. Illinois Tool Works had a return on equity of 72.74% and a net margin of 17.21%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.90 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 7.94 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, June 27th. Illinois Tool Works’s dividend payout ratio is presently 52.63%.

In other news, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 71,927 shares of the company’s stock, valued at $10,486,237.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John R. Hartnett sold 14,323 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $153.55, for a total value of $2,199,296.65. Following the completion of the sale, the executive vice president now directly owns 31,695 shares of the company’s stock, valued at approximately $4,866,767.25. The disclosure for this sale can be found here. Company 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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