Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Putnam Investments LLC

Putnam Investments LLC reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,677 shares of the industrial products company’s stock after selling 112 shares during the period. Putnam Investments LLC’s holdings in Illinois Tool Works were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ITW. Hexavest Inc. acquired a new stake in shares of Illinois Tool Works in the 2nd quarter worth approximately $26,000. Asset Dedication LLC lifted its stake in shares of Illinois Tool Works by 105.3% in the 2nd quarter. Asset Dedication LLC now owns 195 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 100 shares during the period. Weaver Consulting Group acquired a new stake in shares of Illinois Tool Works in the 1st quarter worth approximately $32,000. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Illinois Tool Works by 512.8% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 239 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 200 shares during the period. Finally, Glassman Wealth Services lifted its stake in shares of Illinois Tool Works by 39.8% in the 1st quarter. Glassman Wealth Services now owns 295 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 84 shares during the period. 77.46% of the stock is owned by institutional investors.

In other Illinois Tool Works news, insider Michael R. Zimmerman sold 9,325 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $160.00, for a total transaction of $1,492,000.00. Following the completion of the transaction, the insider now owns 16,315 shares of the company’s stock, valued at $2,610,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Juan Valls sold 64,894 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $160.51, for a total value of $10,416,135.94. Following the sale, the executive vice president now owns 67,047 shares in the company, valued at $10,761,713.97. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,458 shares of company stock valued at $25,172,163. Company insiders own 0.87% of the company’s stock.



ITW has been the subject of a number of research analyst reports. UBS Group upped their price target on shares of Illinois Tool Works from $150.00 to $154.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Goldman Sachs Group downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 target price on the stock. in a report on Monday. They noted that the move was a valuation call. Northcoast Research downgraded shares of 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. Credit Suisse Group boosted their target price on shares of Illinois Tool Works from $124.00 to $152.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Zacks Investment Research downgraded shares of 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. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $142.44.

NYSE:ITW traded up $2.35 during mid-day trading on Wednesday, reaching $154.57. 39,284 shares of the company were exchanged, compared to its average volume of 1,209,450. The stock has a market cap of $50.16 billion, a PE ratio of 20.34, a PEG ratio of 2.75 and a beta of 1.22. The company has a quick ratio of 2.30, a current ratio of 2.87 and a debt-to-equity ratio of 2.52. Illinois Tool Works Inc. has a 12 month low of $117.75 and a 12 month high of $161.71. The company has a fifty day moving average of $151.36 and a 200 day moving average of $150.28.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, July 26th. The industrial products company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.97 by $0.03. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the company posted $1.97 EPS. The business’s quarterly revenue was down 5.8% on a year-over-year basis. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 7.69 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Monday, September 30th will be paid a $1.07 dividend. The ex-dividend date is Friday, September 27th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.00. This represents a $4.28 annualized dividend and a dividend yield of 2.77%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.63%.

About Illinois Tool Works

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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