Adirondack Trust Co. Sells 360 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Adirondack Trust Co. reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 25.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,034 shares of the industrial products company’s stock after selling 360 shares during the quarter. Adirondack Trust Co.’s holdings in Illinois Tool Works were worth $162,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in Illinois Tool Works by 25.1% during the third quarter. Allworth Financial LP now owns 349 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 70 shares during the last quarter. Smith Shellnut Wilson LLC ADV lifted its position in Illinois Tool Works by 3.8% during the second quarter. Smith Shellnut Wilson LLC ADV now owns 2,014 shares of the industrial products company’s stock valued at $304,000 after purchasing an additional 73 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in Illinois Tool Works by 10.5% during the second quarter. Valeo Financial Advisors LLC now owns 788 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 75 shares during the last quarter. Grimes & Company Inc. lifted its position in Illinois Tool Works by 1.0% during the second quarter. Grimes & Company Inc. now owns 8,003 shares of the industrial products company’s stock valued at $1,207,000 after purchasing an additional 83 shares during the last quarter. Finally, Cornerstone Advisors Inc. lifted its position in Illinois Tool Works by 11.2% during the second quarter. Cornerstone Advisors Inc. now owns 836 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 77.46% of the company’s stock.

Shares of ITW traded up $1.79 during mid-day trading on Wednesday, reaching $148.19. The company’s stock had a trading volume of 691,907 shares, compared to its average volume of 1,316,369. The stock has a market cap of $48.59 billion, a PE ratio of 19.50, a P/E/G ratio of 2.68 and a beta of 1.22. The company has a current ratio of 2.87, a quick ratio of 2.30 and a debt-to-equity ratio of 2.52. Illinois Tool Works Inc. has a 52 week low of $117.75 and a 52 week high of $161.71. The company’s fifty day moving average price is $152.20 and its two-hundred day moving average price is $150.93.



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

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.89%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, September 27th. Illinois Tool Works’s payout ratio is presently 56.32%.

In related news, EVP Juan Valls sold 64,894 shares of Illinois Tool Works stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $160.51, for a total value of $10,416,135.94. Following the transaction, the executive vice president now directly owns 67,047 shares of the company’s stock, valued at $10,761,713.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael R. Zimmerman sold 9,325 shares of Illinois Tool Works stock in a transaction on 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 directly owns 16,315 shares in the company, valued at $2,610,400. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,458 shares of company stock valued at $25,172,163. Company insiders own 0.87% of the company’s stock.

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $143.00 to $154.00 and gave the company a “hold” rating in a research report on Monday, July 29th. UBS Group lifted their target price on shares of Illinois Tool Works from $150.00 to $154.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Northcoast Research lowered shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 target price for the company. in a research report on Wednesday, June 26th. Goldman Sachs Group lowered shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 price objective for the company. in a report on Monday, September 23rd. They noted that the move was a valuation call. Finally, Credit Suisse Group boosted their price objective 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. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $142.44.

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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