Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,923 shares of the industrial products company’s stock after selling 151 shares during the period. CHICAGO TRUST Co NA’s holdings in Illinois Tool Works were worth $2,601,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC lifted its stake in Illinois Tool Works by 1,542.1% in the third quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the industrial products company’s stock valued at $1,635,000 after buying an additional 5,860 shares during the last quarter. Annex Advisory Services LLC increased its holdings in shares of Illinois Tool Works by 54.8% in the 3rd quarter. Annex Advisory Services LLC now owns 1,695 shares of the industrial products company’s stock valued at $444,000 after acquiring an additional 600 shares during the period. Gateway Investment Advisers LLC raised its position in Illinois Tool Works by 6.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 7,722 shares of the industrial products company’s stock valued at $2,024,000 after purchasing an additional 471 shares during the last quarter. Guinness Asset Management LTD boosted its stake in Illinois Tool Works by 4.6% during the 3rd quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock worth $210,447,000 after purchasing an additional 35,145 shares during the period. Finally, Perfromance Wealth Partners LLC grew its position in Illinois Tool Works by 87.0% during the 3rd quarter. Perfromance Wealth Partners LLC now owns 2,612 shares of the industrial products company’s stock worth $685,000 after purchasing an additional 1,215 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ITW. Jefferies Financial Group reduced their target price on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Argus raised Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Evercore ISI lowered their target price on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Wells Fargo & Company upped their price target on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Barclays lowered their price objective on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $255.22.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $260.59 on Friday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The company has a market cap of $77.37 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The business has a fifty day moving average of $250.13 and a two-hundred day moving average of $247.65.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the firm earned $2.41 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. As a group, analysts predict that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.30%. Illinois Tool Works’s payout ratio is currently 58.82%.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.