Asset Management One Co. Ltd. Decreases Stake in Illinois Tool Works Inc. (NYSE:ITW)

Asset Management One Co. Ltd. reduced its holdings in Illinois Tool Works Inc. (NYSE:ITWGet Rating) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 134,054 shares of the industrial products company’s stock after selling 664 shares during the period. Asset Management One Co. Ltd.’s holdings in Illinois Tool Works were worth $24,216,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in shares of Illinois Tool Works by 1.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 155,558 shares of the industrial products company’s stock valued at $28,210,000 after acquiring an additional 2,409 shares during the period. Lincoln National Corp raised its stake in shares of Illinois Tool Works by 5.1% in the 3rd quarter. Lincoln National Corp now owns 6,839 shares of the industrial products company’s stock valued at $1,235,000 after acquiring an additional 334 shares during the period. Grandfield & Dodd LLC raised its stake in shares of Illinois Tool Works by 1.3% in the 3rd quarter. Grandfield & Dodd LLC now owns 175,442 shares of the industrial products company’s stock valued at $31,690,000 after acquiring an additional 2,190 shares during the period. AMG National Trust Bank raised its stake in shares of Illinois Tool Works by 7.1% in the 3rd quarter. AMG National Trust Bank now owns 9,455 shares of the industrial products company’s stock valued at $1,708,000 after acquiring an additional 630 shares during the period. Finally, Ieq Capital LLC grew its holdings in shares of Illinois Tool Works by 59.6% in the third quarter. Ieq Capital LLC now owns 16,949 shares of the industrial products company’s stock valued at $3,062,000 after purchasing an additional 6,332 shares in the last quarter. 79.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ITW has been the subject of several analyst reports. The Goldman Sachs Group boosted their price target on shares of Illinois Tool Works from $210.00 to $238.00 and gave the stock a “neutral” rating in a report on Thursday, December 15th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, October 26th. Barclays upped their price objective on shares of Illinois Tool Works from $172.00 to $184.00 and gave the stock an “underweight” rating in a research report on Thursday, January 5th. Wells Fargo & Company upped their price objective on shares of Illinois Tool Works from $210.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 19th. Finally, Credit Suisse Group upped their price target on shares of Illinois Tool Works from $229.00 to $243.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $207.64.

Illinois Tool Works Stock Up 0.1 %

ITW stock opened at $229.35 on Wednesday. Illinois Tool Works Inc. has a twelve month low of $173.52 and a twelve month high of $247.00. The company has a current ratio of 1.41, a quick ratio of 0.95 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $70.45 billion, a P/E ratio of 26.18, a PEG ratio of 3.25 and a beta of 1.11. The firm has a 50 day simple moving average of $224.70 and a 200-day simple moving average of $208.68.

Illinois Tool Works (NYSE:ITWGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The industrial products company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.10. Illinois Tool Works had a net margin of 17.49% and a return on equity of 80.65%. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter last year, the company earned $2.02 earnings per share. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts predict that Illinois Tool Works Inc. will post 9.46 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 12th. Stockholders of record on Friday, December 30th were given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Thursday, December 29th. Illinois Tool Works’s payout ratio is currently 59.82%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 1,390 shares of the firm’s stock in a transaction on Friday, December 9th. The stock was purchased at an average price of $221.81 per share, with a total value of $308,315.90. Following the completion of the acquisition, the director now directly owns 118,994 shares in the company, valued at approximately $26,394,059.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.78% of the company’s stock.

About Illinois Tool Works

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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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