Graves Light Private Wealth Management Inc. Sells 97 Shares of Illinois Tool Works Inc. (NYSE:ITW)

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Graves Light Private Wealth Management Inc. reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,315 shares of the industrial products company’s stock after selling 97 shares during the period. Graves Light Private Wealth Management Inc.’s holdings in Illinois Tool Works were worth $349,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ITW. Thoroughbred Financial Services LLC boosted its position in shares of Illinois Tool Works by 15,116.7% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 661,166 shares of the industrial products company’s stock worth $66,117,000 after purchasing an additional 656,821 shares during the last quarter. Ellis Investment Partners LLC lifted its holdings in Illinois Tool Works by 14,261.0% during the first quarter. Ellis Investment Partners LLC now owns 390,476 shares of the industrial products company’s stock worth $390,000 after acquiring an additional 387,757 shares in the last quarter. First Trust Advisors LP lifted its holdings in Illinois Tool Works by 144.7% during the first quarter. First Trust Advisors LP now owns 540,743 shares of the industrial products company’s stock worth $77,613,000 after acquiring an additional 319,752 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Illinois Tool Works by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 3,925,119 shares of the industrial products company’s stock worth $496,400,000 after acquiring an additional 227,625 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in Illinois Tool Works during the first quarter worth about $21,156,000. Institutional investors and hedge funds own 77.55% of the company’s stock.

ITW opened at $151.67 on Friday. The firm has a 50-day moving average price of $151.19. Illinois Tool Works Inc. has a 1 year low of $117.75 and a 1 year high of $160.78. The firm has a market cap of $49.33 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 2.54 and a beta of 1.23. The company has a debt-to-equity ratio of 2.52, a current ratio of 2.87 and a quick ratio of 2.30.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, July 26th. The industrial products company reported $2.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.03. Illinois Tool Works had a return on equity of 76.17% and a net margin of 17.17%. The firm 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 business posted $1.97 EPS. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. Research analysts expect that Illinois Tool Works Inc. will post 7.74 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Monday, September 30th will be paid a $1.07 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.00. This represents a $4.28 annualized dividend and a dividend yield of 2.82%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.63%.

Several research analysts have weighed in on the company. Northcoast Research lowered Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 target price on the stock. in a report on Wednesday, June 26th. Citigroup set a $161.00 target price on Illinois Tool Works and gave the stock a “hold” rating in a report on Friday, April 26th. Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 target price on the stock. in a report on Tuesday, July 9th. UBS Group lifted their target price on Illinois Tool Works from $150.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Credit Suisse Group lifted their target price on Illinois Tool Works from $124.00 to $152.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $142.33.

In related news, EVP Steven L. Martindale sold 48,622 shares of Illinois Tool Works stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $155.88, for a total value of $7,579,197.36. Following the sale, the executive vice president now owns 84,546 shares of the company’s stock, valued at $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 Illinois Tool Works stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $160.00, for a total value of $1,492,000.00. Following the completion of the sale, the insider now directly owns 16,315 shares in the company, valued at approximately $2,610,400. The disclosure for this sale can be found here. Insiders sold a total of 72,878 shares of company stock worth $11,313,386 in the last three months. Company insiders own 0.87% of the company’s stock.

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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