Ingalls & Snyder LLC Sells 400 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Ingalls & Snyder LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,339 shares of the industrial products company’s stock after selling 400 shares during the quarter. Ingalls & Snyder LLC’s holdings in Illinois Tool Works were worth $2,447,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Financial Connections Group Inc. bought a new stake in Illinois Tool Works during the 2nd quarter valued at approximately $30,000. Fairscale Capital LLC bought a new stake in shares of Illinois Tool Works during the second quarter valued at approximately $30,000. True Wealth Design LLC lifted its holdings in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Illinois Tool Works during the third quarter worth $32,000. Finally, Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works during the third quarter valued at $35,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Down 0.9 %

Shares of ITW stock traded down $2.43 during trading hours on Tuesday, reaching $276.07. 74,234 shares of the stock were exchanged, compared to its average volume of 1,043,532. The firm has a market capitalization of $81.52 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 4.30 and a beta of 1.10. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The company’s 50-day moving average price is $264.35 and its 200-day moving average price is $250.78. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the firm posted $2.55 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.17%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ITW shares. Wells Fargo & Company raised their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. 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 shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Barclays increased their price objective on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $257.30.

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.