Wilbanks Smith & Thomas Asset Management LLC Holds Stake in Illinois Tool Works Inc. (ITW)

Wilbanks Smith & Thomas Asset Management LLC continued to hold its position in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,708 shares of the industrial products company’s stock at the end of the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Illinois Tool Works were worth $245,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP grew its holdings in shares of Illinois Tool Works by 71.3% in the 2nd quarter. Quantbot Technologies LP now owns 25,132 shares of the industrial products company’s stock worth $3,600,000 after acquiring an additional 10,457 shares during the period. Ffcm LLC grew its holdings in shares of Illinois Tool Works by 6.4% in the 2nd quarter. Ffcm LLC now owns 11,851 shares of the industrial products company’s stock worth $1,698,000 after acquiring an additional 714 shares during the period. Oakmont Partners LLC grew its holdings in shares of Illinois Tool Works by 51.1% in the 2nd quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock worth $2,271,000 after acquiring an additional 5,362 shares during the period. Sumitomo Life Insurance Co. grew its holdings in shares of Illinois Tool Works by 4.4% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock worth $2,650,000 after acquiring an additional 786 shares during the period. Finally, Koshinski Asset Management Inc. grew its holdings in Illinois Tool Works by 22.8% during the 2nd quarter. Koshinski Asset Management Inc. now owns 2,151 shares of the industrial products company’s stock valued at $308,000 after buying an additional 399 shares during the last quarter. Institutional investors and hedge funds own 74.65% of the company’s stock.

A number of brokerages have commented on ITW. Zacks Investment Research cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday. Royal Bank Of Canada increased their target price on Illinois Tool Works from $143.00 to $155.00 and gave the company a “sector perform” rating in a report on Tuesday, October 24th. Stifel Nicolaus lowered their target price on Illinois Tool Works from $162.00 to $158.00 and set a “hold” rating on the stock in a report on Tuesday, October 24th. Argus reiterated a “buy” rating and set a $180.00 target price (up previously from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. Finally, Credit Suisse Group lowered their target price on Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $157.27.

In other news, VP Norman D. Jr. Finch acquired 4,986 shares of the stock in a transaction on Wednesday, October 25th. The shares were purchased at an average cost of $156.34 per share, for a total transaction of $779,511.24. Following the transaction, the vice president now owns 4,371 shares in the company, valued at approximately $683,362.14. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Juan Valls sold 48,622 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $156.73, for a total transaction of $7,620,526.06. Following the transaction, the executive vice president now owns 71,101 shares in the company, valued at $11,143,659.73. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 126,506 shares of company stock worth $19,801,832. Corporate insiders own 0.90% of the company’s stock.

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Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.20. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the company posted $1.50 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s payout ratio is 47.78%.

Illinois Tool Works Profile

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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