Park National Corp OH Sells 3,968 Shares of Illinois Tool Works Inc. (NYSE:ITW)


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Park National Corp OH trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 23.9% during the first quarter, HoldingsChannel.com reports. The firm owned 12,661 shares of the industrial products company’s stock after selling 3,968 shares during the quarter. Park National Corp OH’s holdings in Illinois Tool Works were worth $2,805,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in ITW. Advisory Alpha LLC bought a new stake in shares of Illinois Tool Works during the 3rd quarter valued at $79,000. Lombard Odier Asset Management Switzerland SA bought a new stake in shares of Illinois Tool Works during the 3rd quarter valued at $450,000. AQR Capital Management LLC raised its stake in shares of Illinois Tool Works by 47.5% during the 3rd quarter. AQR Capital Management LLC now owns 811,917 shares of the industrial products company’s stock valued at $156,870,000 after purchasing an additional 261,534 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of Illinois Tool Works by 44.1% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 31,385 shares of the industrial products company’s stock valued at $6,064,000 after purchasing an additional 9,604 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of Illinois Tool Works by 4.4% during the 3rd quarter. Captrust Financial Advisors now owns 15,180 shares of the industrial products company’s stock valued at $2,915,000 after purchasing an additional 641 shares during the period. Institutional investors own 77.44% of the company’s stock.

Several equities analysts recently commented on the company. Credit Suisse Group upgraded Illinois Tool Works from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $209.00 to $235.00 in a research report on Tuesday, January 12th. UBS Group upgraded Illinois Tool Works from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $211.00 to $232.00 in a research report on Monday, January 4th. Deutsche Bank Aktiengesellschaft boosted their target price on Illinois Tool Works from $96.00 to $206.00 and gave the stock a “hold” rating in a research report on Monday, February 8th. Barclays boosted their target price on Illinois Tool Works from $207.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Morgan Stanley boosted their target price on Illinois Tool Works from $176.00 to $180.00 and gave the stock an “underweight” rating in a research report on Monday, February 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $204.41.

Shares of ITW stock opened at $219.90 on Thursday. The stock has a market capitalization of $69.59 billion, a PE ratio of 33.33, a P/E/G ratio of 3.88 and a beta of 1.07. Illinois Tool Works Inc. has a 1-year low of $148.27 and a 1-year high of $228.77. The business has a 50-day moving average of $213.43 and a 200 day moving average of $205.68. The company has a debt-to-equity ratio of 2.81, a current ratio of 2.37 and a quick ratio of 1.92.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Thursday, February 4th. The industrial products company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.23. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Illinois Tool Works had a return on equity of 80.95% and a net margin of 16.77%. Illinois Tool Works’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.87 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 6.42 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 14th. Investors of record on Wednesday, March 31st will be issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 2.07%. The ex-dividend date is Tuesday, March 30th. Illinois Tool Works’s dividend payout ratio is presently 58.84%.

In other Illinois Tool Works news, VP Norman D. Jr. Finch sold 7,232 shares of the company’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $203.00, for a total transaction of $1,468,096.00. Also, CEO Ernest Scott Santi sold 1,231 shares of the company’s stock in a transaction that occurred on Thursday, February 11th. The shares were sold at an average price of $205.37, for a total value of $252,810.47. Following the transaction, the chief executive officer now directly owns 295,172 shares of the company’s stock, valued at approximately $60,619,473.64. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Illinois Tool Works Company 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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