Autus Asset Management LLC reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,970 shares of the industrial products company’s stock after selling 692 shares during the quarter. Illinois Tool Works comprises 1.3% of Autus Asset Management LLC’s investment portfolio, making the stock its 24th biggest position. Autus Asset Management LLC’s holdings in Illinois Tool Works were worth $6,950,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Omnia Family Wealth LLC lifted its stake in Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 2 shares in the last quarter. Hudock Capital Group LLC lifted its stake in Illinois Tool Works by 0.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,059 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 5 shares in the last quarter. Laurel Wealth Advisors Inc. lifted its stake in Illinois Tool Works by 0.3% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 3,638 shares of the industrial products company’s stock worth $521,000 after purchasing an additional 10 shares in the last quarter. Washington Trust Bank lifted its stake in Illinois Tool Works by 1.1% in the 2nd quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock worth $140,000 after purchasing an additional 11 shares in the last quarter. Finally, Rowland & Co. Investment Counsel ADV lifted its stake in Illinois Tool Works by 0.4% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 3,607 shares of the industrial products company’s stock worth $518,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 74.71% of the company’s stock.
Shares of Illinois Tool Works Inc. (NYSE ITW) traded up $0.67 during trading hours on Monday, hitting $160.51. 54,923 shares of the stock were exchanged, compared to its average volume of 1,196,029. The company has a market cap of $54,761.02, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 2.39 and a beta of 1.16. Illinois Tool Works Inc. has a 1 year low of $120.06 and a 1 year high of $160.47. 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 (NYSE:ITW) last issued its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.20. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the firm earned $1.50 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. research analysts forecast that Illinois Tool Works Inc. will post 6.7 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio is currently 47.78%.
In related news, insider Steven L. Martindale sold 64,818 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the transaction, the insider now owns 95,328 shares of the company’s stock, valued at approximately $14,984,608.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John R. Hartnett sold 6,533 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $150.00, for a total transaction of $979,950.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,506 shares of company stock worth $19,801,832. 0.90% of the stock is owned by insiders.
Several analysts have issued reports on the stock. Zacks Investment Research cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Royal Bank Of Canada increased their target price on shares of Illinois Tool Works from $143.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 24th. Stifel Nicolaus lowered their target price on shares of Illinois Tool Works from $162.00 to $158.00 and set a “hold” rating on the stock in a research note on Tuesday, October 24th. Argus reissued a “buy” rating and issued a $180.00 price target (up previously from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. Finally, Credit Suisse Group decreased their price target on shares of Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Illinois Tool Works has an average rating of “Hold” and an average target price of $157.27.
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Illinois Tool Works Company Profile
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.
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