Illinois Tool Works Inc. (ITW) Shares Sold by KCG Holdings Inc.

KCG Holdings Inc. reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 23.8% during the first quarter, Holdings Channel reports. The institutional investor owned 16,494 shares of the industrial products company’s stock after selling 5,161 shares during the period. KCG Holdings Inc.’s holdings in Illinois Tool Works were worth $2,185,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FCM Investments TX purchased a new position in shares of Illinois Tool Works during the first quarter worth $106,000. MCF Advisors LLC boosted its position in shares of Illinois Tool Works by 32.0% in the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock worth $109,000 after buying an additional 200 shares in the last quarter. TrimTabs Asset Management LLC boosted its position in shares of Illinois Tool Works by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock worth $118,000 after buying an additional 416 shares in the last quarter. Hudock Capital Group LLC boosted its stake in Illinois Tool Works by 0.6% in the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock worth $139,000 after buying an additional 6 shares in the last quarter. Finally, Baystate Wealth Management LLC boosted its stake in Illinois Tool Works by 23.3% in the first quarter. Baystate Wealth Management LLC now owns 1,391 shares of the industrial products company’s stock worth $182,000 after buying an additional 263 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Illinois Tool Works Inc. (NYSE:ITW) traded down 0.38% during mid-day trading on Friday, reaching $135.67. The company’s stock had a trading volume of 1,123,747 shares. Illinois Tool Works Inc. has a 1-year low of $111.50 and a 1-year high of $150.29. The firm has a market capitalization of $46.69 billion, a price-to-earnings ratio of 21.95 and a beta of 1.11. The firm has a 50-day moving average of $142.53 and a 200 day moving average of $137.77.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. Illinois Tool Works’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share. Equities analysts expect that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.30%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Thursday, September 28th. Illinois Tool Works’s payout ratio is presently 42.07%.

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A number of research firms recently commented on ITW. BMO Capital Markets reiterated a “buy” rating and set a $160.00 price objective on shares of Illinois Tool Works in a research report on Thursday, July 20th. Morgan Stanley reiterated an “equal weight” rating and set a $140.00 price objective (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research report on Wednesday, July 12th. BidaskClub cut Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $147.00 price objective on shares of Illinois Tool Works in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $151.08.

In other Illinois Tool Works news, insider John R. Hartnett sold 11,750 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $144.96, for a total value of $1,703,280.00. Following the transaction, the insider now directly owns 23,839 shares of the company’s stock, valued at approximately $3,455,701.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 52,447 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $140.62, for a total value of $7,375,097.14. Following the completion of the transaction, the chief financial officer now directly owns 67,383 shares in the company, valued at $9,475,397.46. The disclosure for this sale can be found here. Insiders have sold 100,664 shares of company stock worth $14,329,625 over the last three months. 0.90% of the stock is owned by insiders.

About Illinois Tool Works

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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