Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by GW Henssler & Associates Ltd.

GW Henssler & Associates Ltd. trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,219 shares of the industrial products company’s stock after selling 484 shares during the quarter. GW Henssler & Associates Ltd.’s holdings in Illinois Tool Works were worth $3,988,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of Illinois Tool Works during the 1st quarter valued at approximately $159,000. Meadow Creek Wealth Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 1st quarter valued at approximately $1,062,000. Norden Group LLC raised its position in Illinois Tool Works by 1,889.1% in the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock valued at $7,103,000 after purchasing an additional 25,144 shares during the period. Massachusetts Wealth Management raised its position in Illinois Tool Works by 9.1% in the first quarter. Massachusetts Wealth Management now owns 7,179 shares of the industrial products company’s stock valued at $1,926,000 after purchasing an additional 600 shares during the period. Finally, First Trust Direct Indexing L.P. raised its position in Illinois Tool Works by 22.0% in the first quarter. First Trust Direct Indexing L.P. now owns 6,731 shares of the industrial products company’s stock valued at $1,806,000 after purchasing an additional 1,213 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ITW. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Barclays lowered their target price on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Stifel Nicolaus upped their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $255.44.

Illinois Tool Works Trading Down 0.6 %

ITW stock traded down $1.46 during midday trading on Tuesday, hitting $255.41. The stock had a trading volume of 307,231 shares, compared to its average volume of 1,057,326. The firm has a market cap of $76.21 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. Illinois Tool Works Inc. has a 12-month low of $221.82 and a 12-month high of $271.15. The company’s 50-day moving average price is $254.36 and its 200 day moving average price is $247.14.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.41 EPS. On average, equities research analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is currently 59.17%.

About Illinois Tool Works

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.