Eqis Capital Management Inc. Sells 409 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Eqis Capital Management Inc. lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 9.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,951 shares of the industrial products company’s stock after selling 409 shares during the period. Eqis Capital Management Inc.’s holdings in Illinois Tool Works were worth $763,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Coastal Capital Group Inc. bought a new stake in Illinois Tool Works in the third quarter valued at $28,000. Rosenberg Matthew Hamilton bought a new stake in Illinois Tool Works in the second quarter valued at $27,000. Knuff & Co LLC purchased a new position in Illinois Tool Works during the third quarter valued at $31,000. Old North State Trust LLC purchased a new position in Illinois Tool Works during the third quarter valued at $37,000. Finally, Evolution Wealth Advisors LLC lifted its position in Illinois Tool Works by 166.2% during the third quarter. Evolution Wealth Advisors LLC now owns 189 shares of the industrial products company’s stock valued at $37,000 after buying an additional 118 shares during the period. Institutional investors and hedge funds own 78.12% of the company’s stock.

Shares of NYSE:ITW opened at $203.84 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $115.94 and a fifty-two week high of $224.69. The business has a 50-day simple moving average of $203.84 and a two-hundred day simple moving average of $186.79. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.92 and a current ratio of 2.37. The firm has a market cap of $64.52 billion, a price-to-earnings ratio of 30.88, a price-to-earnings-growth ratio of 4.46 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, October 23rd. The industrial products company reported $1.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.38. Illinois Tool Works had a return on equity of 80.95% and a net margin of 16.77%. The business had revenue of $3.31 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the firm earned $2.04 EPS. Illinois Tool Works’s revenue was down 4.9% on a year-over-year basis. As a group, research analysts predict that Illinois Tool Works Inc. will post 6.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Thursday, December 31st will be given a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Wednesday, December 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 58.84%.

ITW has been the subject of several recent research reports. Barclays initiated coverage on Illinois Tool Works in a research report on Tuesday, August 25th. They set an “equal weight” rating and a $197.00 price objective for the company. Wells Fargo & Company raised their price objective on Illinois Tool Works from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. Smith Barney Citigroup raised their price objective on Illinois Tool Works from $203.00 to $211.00 in a research report on Monday, October 26th. Bank of America raised Illinois Tool Works from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $175.00 to $212.00 in a research report on Thursday, October 29th. Finally, Credit Suisse Group raised their price objective on Illinois Tool Works from $174.00 to $195.00 in a research report on Monday, August 3rd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $184.00.

Illinois Tool Works 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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