Cozad Asset Management Inc. Trims Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Cozad Asset Management Inc. reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,814 shares of the industrial products company’s stock after selling 286 shares during the quarter. Cozad Asset Management Inc.’s holdings in Illinois Tool Works were worth $2,048,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairscale Capital LLC acquired a new position in Illinois Tool Works in the second quarter valued at approximately $30,000. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works in the third quarter valued at $32,000. Financial Connections Group Inc. acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at $30,000. Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works during the 3rd quarter worth about $35,000. Finally, Meeder Asset Management Inc. raised its holdings in Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after buying an additional 115 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

Shares of ITW opened at $272.87 on Friday. The stock has a 50-day simple moving average of $256.78 and a 200-day simple moving average of $247.80. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a 1 year low of $227.66 and a 1 year high of $277.58. The stock has a market capitalization of $80.58 billion, a PE ratio of 23.60, a PEG ratio of 3.85 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the business posted $2.55 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. On average, analysts predict that Illinois Tool Works Inc. will post 10.75 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wells Fargo & Company increased 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. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Evercore ISI cut their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Stifel Nicolaus raised their target price on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $256.40.

Illinois Tool Works Company 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.