Capital Investment Services of America Inc. Grows Position in Illinois Tool Works Inc. (NYSE:ITW)

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Capital Investment Services of America Inc. grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.3% in the third quarter, HoldingsChannel.com reports. The firm owned 114,481 shares of the industrial products company’s stock after buying an additional 3,709 shares during the quarter. Illinois Tool Works comprises approximately 2.6% of Capital Investment Services of America Inc.’s holdings, making the stock its 16th largest holding. Capital Investment Services of America Inc.’s holdings in Illinois Tool Works were worth $17,915,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in ITW. Invesco Ltd. lifted its stake in Illinois Tool Works by 179.7% in the second quarter. Invesco Ltd. now owns 2,139,052 shares of the industrial products company’s stock worth $322,590,000 after acquiring an additional 1,374,150 shares during the period. Nuveen Asset Management LLC lifted its stake in Illinois Tool Works by 6,875.2% in the second quarter. Nuveen Asset Management LLC now owns 1,237,183 shares of the industrial products company’s stock worth $186,579,000 after acquiring an additional 1,219,446 shares during the period. Vanguard Group Inc. lifted its stake in Illinois Tool Works by 2.6% in the second quarter. Vanguard Group Inc. now owns 26,095,477 shares of the industrial products company’s stock worth $3,935,459,000 after acquiring an additional 659,248 shares during the period. Thoroughbred Financial Services LLC lifted its stake in Illinois Tool Works by 15,116.7% in the second quarter. Thoroughbred Financial Services LLC now owns 661,166 shares of the industrial products company’s stock worth $66,117,000 after acquiring an additional 656,821 shares during the period. Finally, BlackRock Inc. lifted its stake in Illinois Tool Works by 3.0% in the second quarter. BlackRock Inc. now owns 20,244,400 shares of the industrial products company’s stock worth $3,053,058,000 after acquiring an additional 581,489 shares during the period. 77.46% of the stock is owned by hedge funds and other institutional investors.

In other Illinois Tool Works news, CFO Michael M. Larsen sold 35,617 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $159.61, for a total transaction of $5,684,829.37. Following the completion of the transaction, the chief financial officer now owns 38,726 shares of the company’s stock, valued at $6,181,056.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven L. Martindale sold 48,622 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $155.88, for a total value of $7,579,197.36. Following the transaction, the executive vice president now directly owns 84,546 shares of the company’s stock, valued at approximately $13,179,030.48. The disclosure for this sale can be found here. Insiders have sold 158,458 shares of company stock valued at $25,172,163 in the last three months. Insiders own 0.87% of the company’s stock.

Illinois Tool Works stock traded up $4.63 on Friday, hitting $154.53. 1,602,706 shares of the stock traded hands, compared to its average volume of 1,315,474. The company has a current ratio of 2.87, a quick ratio of 2.30 and a debt-to-equity ratio of 2.52. The firm has a market cap of $47.36 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 2.60 and a beta of 1.22. The business’s fifty day simple moving average is $152.14 and its 200 day simple moving average is $150.96. Illinois Tool Works Inc. has a 1 year low of $117.75 and a 1 year high of $161.71.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.97 by $0.03. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.73 billion. Illinois Tool Works had a return on equity of 76.17% and a net margin of 17.17%. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.97 earnings per share. As a group, analysts predict that Illinois Tool Works Inc. will post 7.68 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Monday, September 30th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $4.28 annualized dividend and a yield of 2.77%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.00. Illinois Tool Works’s dividend payout ratio (DPR) is currently 56.32%.

A number of brokerages recently commented on ITW. Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 price target for the company. in a research note on Tuesday, July 9th. Credit Suisse Group raised their price target on Illinois Tool Works from $124.00 to $152.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. UBS Group raised their price target on Illinois Tool Works from $150.00 to $154.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Northcoast Research lowered Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price target for the company. in a research note on Wednesday, June 26th. Finally, Stifel Nicolaus raised their price target on Illinois Tool Works from $143.00 to $154.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Illinois Tool Works has an average rating of “Hold” and an average price target of $142.44.

Illinois Tool Works Company Profile

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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