First Business Financial Services Inc. Invests $201,000 in Illinois Tool Works Inc. (NYSE:ITW)

First Business Financial Services Inc. bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, HoldingsChannel reports. The firm bought 1,287 shares of the industrial products company’s stock, valued at approximately $201,000.

Other institutional investors have also recently bought and sold shares of the company. Hexavest Inc. purchased a new stake in shares of Illinois Tool Works during the second quarter worth about $26,000. D Orazio & Associates Inc. purchased a new stake in shares of Illinois Tool Works during the third quarter worth about $28,000. Asset Dedication LLC boosted its holdings in shares of Illinois Tool Works by 105.3% during the second quarter. Asset Dedication LLC now owns 195 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 100 shares during the period. Strategic Blueprint LLC purchased a new stake in shares of Illinois Tool Works during the third quarter worth about $31,000. Finally, Garrett Wealth Advisory Group LLC purchased a new stake in shares of Illinois Tool Works during the third quarter worth about $33,000. Institutional investors own 78.17% of the company’s stock.

In other Illinois Tool Works news, CFO Michael M. Larsen sold 35,617 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $159.61, for a total transaction of $5,684,829.37. Following the completion of the transaction, the chief financial officer now owns 38,726 shares of the company’s stock, valued at $6,181,056.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ernest Scott Santi sold 152,594 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $169.05, for a total transaction of $25,796,015.70. Following the transaction, the chief executive officer now directly owns 150,922 shares of the company’s stock, valued at approximately $25,513,364.10. The disclosure for this sale can be found here. Insiders have sold 346,180 shares of company stock valued at $57,725,646 in the last ninety days. Insiders own 0.87% of the company’s stock.

ITW has been the subject of several research analyst reports. Seaport Global Securities restated a “neutral” rating on shares of Illinois Tool Works in a report on Monday, October 28th. Goldman Sachs Group lowered shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 price objective for the company. in a report on Monday, September 23rd. They noted that the move was a valuation call. Wells Fargo & Co raised their price objective on shares of Illinois Tool Works from $170.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Citigroup lowered their price objective on shares of Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Finally, Stifel Nicolaus set a $143.00 price objective on shares of Illinois Tool Works and gave the stock a “hold” rating in a report on Wednesday, October 9th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $150.57.

ITW traded down $0.10 on Friday, hitting $176.41. The company had a trading volume of 995,797 shares, compared to its average volume of 1,318,047. The company has a debt-to-equity ratio of 2.57, a current ratio of 2.81 and a quick ratio of 2.27. Illinois Tool Works Inc. has a 52-week low of $117.75 and a 52-week high of $179.29. The stock has a fifty day simple moving average of $160.07 and a 200-day simple moving average of $153.13. The firm has a market capitalization of $56.63 billion, a P/E ratio of 23.21, a P/E/G ratio of 2.99 and a beta of 1.22.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, October 25th. The industrial products company reported $2.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.10. Illinois Tool Works had a net margin of 17.49% and a return on equity of 80.38%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the firm earned $1.76 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts expect that Illinois Tool Works Inc. will post 7.7 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Monday, December 30th. Illinois Tool Works’s dividend payout ratio is 56.32%.

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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