Mountain Pacific Investment Advisers Inc. ID lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,084 shares of the industrial products company’s stock after selling 107 shares during the quarter. Mountain Pacific Investment Advisers Inc. ID’s holdings in Illinois Tool Works were worth $1,973,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Bank bought a new position in shares of Illinois Tool Works during the 4th quarter worth about $201,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Illinois Tool Works by 35.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,845 shares of the industrial products company’s stock worth $234,000 after purchasing an additional 485 shares in the last quarter. Belpointe Asset Management LLC bought a new position in shares of Illinois Tool Works during the 1st quarter worth about $481,000. Meeder Asset Management Inc. bought a new position in shares of Illinois Tool Works during the 1st quarter worth about $1,071,000. Finally, Corient Capital Partners LLC boosted its position in shares of Illinois Tool Works by 44.4% during the 1st quarter. Corient Capital Partners LLC now owns 8,632 shares of the industrial products company’s stock worth $1,239,000 after purchasing an additional 2,655 shares in the last quarter. 77.55% of the stock is currently owned by institutional investors and hedge funds.

Shares of ITW traded up $0.56 on Monday, reaching $156.20. The company’s stock had a trading volume of 661,719 shares, compared to its average volume of 1,258,198. The company has a quick ratio of 2.30, a current ratio of 2.87 and a debt-to-equity ratio of 2.52. Illinois Tool Works Inc. has a twelve month low of $117.75 and a twelve month high of $160.78. The firm has a market cap of $50.70 billion, a PE ratio of 20.55, a PEG ratio of 2.59 and a beta of 1.24. The company has a fifty day moving average of $150.75.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, July 26th. The industrial products company reported $2.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.03. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the prior year, the business posted $1.97 EPS. The firm’s revenue was down 5.8% compared to the same quarter last year. Equities research analysts forecast that Illinois Tool Works Inc. will post 7.8 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.56%. Illinois Tool Works’s dividend payout ratio is presently 52.63%.

ITW has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. UBS Group set a €36.00 ($41.86) price objective on shares of Siemens Healthineers and gave the stock a “neutral” rating in a research report on Monday. Morgan Stanley set a $10.00 price objective on shares of Ford Motor and gave the stock a “hold” rating in a research report on Friday, April 26th. Argus increased their price objective on shares of Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Citigroup set a $221.00 price objective on shares of 3M and gave the stock a “buy” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $142.33.

In other Illinois Tool Works news, EVP John R. Hartnett sold 14,323 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $153.55, for a total value of $2,199,296.65. Following the completion of the sale, the executive vice president now owns 31,695 shares in the company, valued at approximately $4,866,767.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Randall J. Scheuneman sold 14,931 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $150.17, for a total transaction of $2,242,188.27. Following the completion of the sale, the vice president now owns 21,603 shares of the company’s stock, valued at approximately $3,244,122.51. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.

About Illinois Tool Works

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.

See Also: What does a bar chart mean for investors?

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

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