Illinois Tool Works Inc. (ITW) Shares Sold by First National Bank of Mount Dora Trust Investment Services

First National Bank of Mount Dora Trust Investment Services decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 27,816 shares of the industrial products company’s stock after selling 1,925 shares during the period. Illinois Tool Works accounts for about 2.0% of First National Bank of Mount Dora Trust Investment Services’ portfolio, making the stock its 23rd largest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Illinois Tool Works were worth $4,641,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in ITW. Atlantic Trust Group LLC raised its position in shares of Illinois Tool Works by 21.6% in the 3rd quarter. Atlantic Trust Group LLC now owns 243,617 shares of the industrial products company’s stock valued at $36,045,000 after buying an additional 43,356 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Illinois Tool Works by 7.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,487,337 shares of the industrial products company’s stock valued at $220,066,000 after buying an additional 103,127 shares in the last quarter. AXA raised its position in shares of Illinois Tool Works by 3.5% in the 3rd quarter. AXA now owns 300,701 shares of the industrial products company’s stock valued at $44,492,000 after buying an additional 10,108 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Illinois Tool Works in the 3rd quarter valued at approximately $2,001,000. Finally, Belpointe Asset Management LLC acquired a new position in shares of Illinois Tool Works in the 3rd quarter valued at approximately $514,000. 74.69% of the stock is owned by institutional investors and hedge funds.

Shares of Illinois Tool Works Inc. (NYSE ITW) opened at $173.39 on Tuesday. The company has a market cap of $59,400.00, a PE ratio of 26.59, a PEG ratio of 2.35 and a beta of 1.18. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 1.48. Illinois Tool Works Inc. has a 1-year low of $123.15 and a 1-year high of $173.39.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th were issued a $0.78 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $3.12 annualized dividend and a dividend yield of 1.80%. Illinois Tool Works’s dividend payout ratio is currently 47.85%.

Several brokerages have recently commented on ITW. Morgan Stanley restated an “equal weight” rating and issued a $147.00 target price (up from $136.00) on shares of Illinois Tool Works in a research report on Monday, October 2nd. BMO Capital Markets upped their price objective on shares of Illinois Tool Works to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 6th. Bank of America assumed coverage on shares of Illinois Tool Works in a research report on Monday, December 11th. They set a “buy” rating and a $190.00 price objective for the company. Zacks Investment Research cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Illinois Tool Works from an “underweight” rating to a “neutral” rating and upped their price target for the company from $132.00 to $140.00 in a research report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $168.25.

In related news, VP Norman D. Jr. Finch acquired 4,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was acquired at an average price of $156.34 per share, for a total transaction of $779,511.24. Following the completion of the acquisition, the vice president now owns 4,371 shares of the company’s stock, valued at approximately $683,362.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven L. Martindale sold 64,818 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the sale, the insider now owns 95,328 shares of the company’s stock, valued at approximately $14,984,608.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,258 shares of company stock valued at $33,653,349. 0.90% of the stock is currently owned by corporate insiders.

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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)

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