Massmutual Trust Co. FSB ADV Sells 277 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Massmutual Trust Co. FSB ADV cut its stake in Illinois Tool Works Inc. (NYSE:ITWGet Rating) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,953 shares of the industrial products company’s stock after selling 277 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Illinois Tool Works were worth $720,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Illinois Tool Works by 1.9% in the first quarter. BlackRock Inc. now owns 21,940,856 shares of the industrial products company’s stock worth $4,594,412,000 after purchasing an additional 400,841 shares during the last quarter. State Street Corp grew its holdings in Illinois Tool Works by 1.6% during the 4th quarter. State Street Corp now owns 13,032,994 shares of the industrial products company’s stock worth $3,232,221,000 after acquiring an additional 210,839 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Illinois Tool Works by 5.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,902,872 shares of the industrial products company’s stock worth $1,236,063,000 after acquiring an additional 326,412 shares in the last quarter. Wellington Management Group LLP grew its holdings in Illinois Tool Works by 27.3% during the 1st quarter. Wellington Management Group LLP now owns 5,547,647 shares of the industrial products company’s stock worth $1,161,677,000 after acquiring an additional 1,189,751 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Illinois Tool Works by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,048,788 shares of the industrial products company’s stock worth $1,242,988,000 after acquiring an additional 104,469 shares in the last quarter. 79.68% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $194.06 on Friday. The firm has a market capitalization of $60.08 billion, a P/E ratio of 23.02, a PEG ratio of 2.69 and a beta of 1.12. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 1.81. The company has a 50 day moving average price of $200.41 and a 200 day moving average price of $201.02. Illinois Tool Works Inc. has a 52 week low of $173.52 and a 52 week high of $249.81.

Illinois Tool Works (NYSE:ITWGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.22 by $0.15. The firm had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.98 billion. Illinois Tool Works had a net margin of 17.44% and a return on equity of 75.41%. Illinois Tool Works’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $2.10 EPS. Sell-side analysts expect that Illinois Tool Works Inc. will post 9.08 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $1.31 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.22. This represents a $5.24 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, September 29th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.89%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ITW shares. Bank of America reiterated a “neutral” rating and set a $220.00 target price on shares of Illinois Tool Works in a report on Wednesday, August 24th. Deutsche Bank Aktiengesellschaft cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $188.00 target price on the stock. in a report on Monday, August 15th. They noted that the move was a valuation call. Morgan Stanley increased their target price on shares of Illinois Tool Works from $182.00 to $191.00 and gave the stock an “underweight” rating in a report on Wednesday, August 3rd. Barclays lowered their price target on shares of Illinois Tool Works from $180.00 to $167.00 and set an “underweight” rating on the stock in a report on Friday, July 8th. Finally, Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $180.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $202.00.

Illinois Tool Works Profile

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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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