Bank of Hawaii Sells 295 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Bank of Hawaii reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,025 shares of the industrial products company’s stock after selling 295 shares during the period. Bank of Hawaii’s holdings in Illinois Tool Works were worth $3,580,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ITW. Hudock Capital Group LLC raised its position 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 during the period. Trust Co. of Virginia VA raised its position in Illinois Tool Works by 0.4% in the first quarter. Trust Co. of Virginia VA now owns 3,865 shares of the industrial products company’s stock worth $512,000 after buying an additional 15 shares during the period. Marietta Wealth Management LLC raised its position in Illinois Tool Works by 0.8% in the first quarter. Marietta Wealth Management LLC now owns 3,409 shares of the industrial products company’s stock worth $452,000 after buying an additional 26 shares during the period. Buckingham Asset Management LLC raised its position in Illinois Tool Works by 1.6% in the first quarter. Buckingham Asset Management LLC now owns 1,793 shares of the industrial products company’s stock worth $238,000 after buying an additional 29 shares during the period. Finally, Mosaic Family Wealth LLC raised its position in Illinois Tool Works by 2.4% in the first quarter. Mosaic Family Wealth LLC now owns 1,390 shares of the industrial products company’s stock worth $184,000 after buying an additional 32 shares during the period. 75.47% of the stock is owned by hedge funds and other institutional investors.

Shares of Illinois Tool Works Inc. (ITW) opened at 146.21 on Tuesday. The stock’s 50 day moving average price is $142.60 and its 200 day moving average price is $133.40. Illinois Tool Works Inc. has a 52-week low of $109.86 and a 52-week high of $150.29. The company has a market capitalization of $50.51 billion, a P/E ratio of 24.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Monday, April 24th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.09. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Illinois Tool Works had a return on equity of 45.02% and a net margin of 15.24%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.29 EPS. On average, equities research analysts forecast that Illinois Tool Works Inc. will post $6.38 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Wednesday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 43.70%.

ILLEGAL ACTIVITY WARNING: This story was originally reported by Transcript Daily and is owned by of Transcript Daily. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://transcriptdaily.com/2017/07/18/bank-of-hawaii-sells-295-shares-of-illinois-tool-works-inc-nyseitw.html.

A number of research firms recently weighed in on ITW. Stifel Nicolaus reissued a “hold” rating and issued a $147.00 target price on shares of Illinois Tool Works in a report on Friday. Morgan Stanley restated an “equal weight” rating and issued a $140.00 price target (up from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Barclays PLC raised their price target on Illinois Tool Works from $123.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 19th. Citigroup Inc. raised their price target on Illinois Tool Works from $143.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Finally, BMO Capital Markets restated a “buy” rating and issued a $145.00 price target on shares of Illinois Tool Works in a research report on Thursday, April 20th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $148.69.

In other news, insider Michael R. Zimmerman sold 5,000 shares of the company’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $140.00, for a total value of $700,000.00. Following the transaction, the insider now owns 7,626 shares of the company’s stock, valued at approximately $1,067,640. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John R. Hartnett sold 13,889 shares of the company’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $139.27, for a total value of $1,934,321.03. Following the completion of the transaction, the insider now directly owns 25,978 shares in the company, valued at approximately $3,617,956.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,850 shares of company stock worth $30,945,971. Corporate insiders own 0.90% of the company’s stock.

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.

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

Receive News & Ratings for Illinois Tool Works Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply