Nicolet Bankshares Inc. Lowers Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Nicolet Bankshares Inc. trimmed its stake in Illinois Tool Works Inc. (NYSE:ITW) by 14.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,579 shares of the industrial products company’s stock after selling 440 shares during the period. Nicolet Bankshares Inc.’s holdings in Illinois Tool Works were worth $498,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rosenberg Matthew Hamilton bought a new position in shares of Illinois Tool Works in the second quarter worth approximately $27,000. Coastal Capital Group Inc. bought a new position in shares of Illinois Tool Works in the third quarter worth approximately $28,000. Old North State Trust LLC bought a new position in shares of Illinois Tool Works in the third quarter worth approximately $37,000. Evolution Wealth Advisors LLC increased its position in shares of Illinois Tool Works by 166.2% in the third quarter. Evolution Wealth Advisors LLC now owns 189 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 118 shares during the last quarter. Finally, Watson Rebecca bought a new position in shares of Illinois Tool Works in the second quarter worth approximately $43,000. Institutional investors own 78.12% of the company’s stock.

In related news, EVP John R. Hartnett sold 19,436 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $193.96, for a total value of $3,769,806.56. Following the completion of the sale, the executive vice president now owns 39,485 shares of the company’s stock, valued at $7,658,510.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Christopher A. O’herlihy sold 29,702 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $194.58, for a total value of $5,779,415.16. Following the completion of the sale, the insider now directly owns 63,300 shares of the company’s stock, valued at approximately $12,316,914. The disclosure for this sale can be found here. Insiders sold 143,879 shares of company stock valued at $27,240,677 in the last ninety days. 0.79% of the stock is currently owned by insiders.

Several research firms recently weighed in on ITW. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Illinois Tool Works from $173.00 to $185.00 and gave the stock a “hold” rating in a research report on Monday. Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and increased their price target for the company from $175.00 to $212.00 in a research report on Thursday. Smith Barney Citigroup increased their price target on shares of Illinois Tool Works from $203.00 to $211.00 in a research report on Monday. Morgan Stanley increased their price target on shares of Illinois Tool Works from $167.00 to $176.00 and gave the company an “underweight” rating in a research report on Monday. Finally, Credit Suisse Group increased their price target on shares of Illinois Tool Works from $174.00 to $195.00 in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and one has given a buy rating to the company. Illinois Tool Works has an average rating of “Hold” and an average target price of $184.00.

Shares of Illinois Tool Works stock traded down $2.82 on Friday, hitting $193.99. The stock had a trading volume of 26,586 shares, compared to its average volume of 1,365,888. The company has a quick ratio of 2.18, a current ratio of 2.75 and a debt-to-equity ratio of 3.29. Illinois Tool Works Inc. has a one year low of $115.94 and a one year high of $208.08. The stock has a market cap of $62.22 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 6.27 and a beta of 1.15. The stock’s 50-day simple moving average is $198.60 and its two-hundred day simple moving average is $181.37.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, October 23rd. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.38. Illinois Tool Works had a net margin of 17.16% and a return on equity of 81.80%. The firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the business earned $2.04 earnings per share. The business’s revenue was down 4.9% on a year-over-year basis. As a group, equities analysts predict that Illinois Tool Works Inc. will post 5.81 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th were paid a $1.14 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $4.56 dividend on an annualized basis and a yield of 2.35%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 58.84%.

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.

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

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