Capital Investment Advisors LLC downgrades Illinois Tool Works Inc. (NYSE: ITW – Get Rating) by 2.7% in the first quarter, according to the company in its last disclosure to the Securities and Exchange Commission. The fund owned 10,048 shares of the company’s industrial products after selling 281 shares during the period. Capital Investment Advisors LLC owns $ 2,104,000 in Illinois Tool Works since its last filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently changed holdings in ITW. National Asset Management Inc. increased its position in Illinois Tool Works by 16.9% in the third quarter. National Asset Management Inc. already owns 2,637 shares of the company’s industrial products worth $ 545,000 after buying an additional 382 shares in the last quarter. Janus Henderson Group PLC increased its position in Illinois Tool Works by 26.0% in the third quarter. Janus Henderson Group PLC already owns 129,954 shares of the company’s industrial products worth $ 26,852,000 after buying an additional 26,840 shares in the last quarter. Atria Investments LLC increased its position in Illinois Tool Works by 6.9% in the third quarter. Atria Investments LLC now owns 17,938 shares of the company’s industrial products worth $ 3,707,000 after buying an additional 1,156 shares in the last quarter. Cetera Advisors LLC increased its position in Illinois Tool Works by 72.3% in the third quarter. Cetera Advisors LLC already owns 7,820 shares of the company’s industrial products worth $ 1,616,000 after buying an additional 3,281 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in Illinois Tool Works by 72.8% in the third quarter. Captrust Financial Advisors now owns 30,109 shares of the company’s industrial products worth $ 6,258,000 after buying an additional 12,688 shares in the last quarter. Hedge funds and other institutional investors own 79.03% of the company’s shares.
In related news, EVP Lei Zhang Schlitz sold 1,000 shares of shares in a deal on Wednesday, May 11th. The shares were sold at an average price of $ 205.34, for a total value of $ 205,340.00. Following the transaction, the executive vice president now directly owns 7,803 shares of the company’s stock worth approximately $ 1,602,268.02. The transaction is disclosed in SEC documentation, which can be accessed through the SEC website. 0.78% of the shares are currently owned by corporate insiders.
Several research firms commented on ITW. Credit Suisse Group lowered its price target for Illinois Tool Works from $ 267.00 to $ 261.00 in a research report on Wednesday, May 4th. JPMorgan Chase & Co. upgraded Illinois Tool Works from a “neutral” rating to an “overweight” rating and lowered its share price target from $ 262.00 to $ 255.00 in a research report Monday, March 28th. StockNews.com began covering Illinois Tool Works in a research report on Thursday, March 31st. They issued a “hold” rating on the shares. Morgan Stanley lowered its price target for Illinois Tool Works from $ 187.00 to $ 182.00 and rated its stock “under weight” in a research report on Tuesday, May 31. Finally, Deutsche Bank Aktiengesellschaft lowered its price target for Illinois Tool Works from $ 236.00 to $ 226.00 and set a rating for “holding” the shares in a research report on Thursday, April 14. Two analysts rated the shares with a sell rating, seven issued a retention rating and two assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus hold rating and an average target price of $ 230.55.
Shares of NYSE: ITW opened at $ 187.92 on Friday. Illinois Tool Works Inc. has a one-year low of $ 177.33 and a one-year high of $ 249.81. The company has a market capitalization of 58.53 billion dollars, a price / profit ratio of 22.08, a price / profit-growth ratio of 1.98 and a beta of 1.07. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.73 and a fast ratio of 1.24. The 50-day moving average business price is $ 200.39, and the 200-day moving average is $ 216.42.
Illinois Tool Works (NYSE: ITW – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $ 2.11 EPS for the quarter, beating the consensus estimate of $ 2.07 by $ 0.04. Illinois Tool Works has a return on equity of 72.57% and a net profit of 18.08%. The company had revenue of $ 3.94 billion in the quarter, compared to the consensus estimate of $ 3.76 billion. During the same period last year, the company earned $ 2.11 EPS. The company’s revenues increased by 11.1% compared to the same quarter last year. On average, sales analysts expect Illinois Tool Works Inc. will report 9.16 earnings per share for the current year.
The company also recently unveiled a three-month dividend, which will be paid on Thursday, July 14. The record investors on Thursday, June 30, will receive a dividend of $ 1.22. This represents a $ 4.88 annual dividend and a yield of 2.60%. The date of the former dividend of this dividend is Wednesday, June 29. The Illinois Tool Works dividend payout ratio is currently 57.34%.
Company Profile Illinois Tool Works (Get a rating)
Illinois Tool Works Inc. manufactures and sells industrial products and equipment worldwide. Works in seven segments: Automotive OEM; Food equipment; Tests and measurements and electronics; Welding; Polymers and liquids; Construction products; and special products. The automotive OEM segment offers plastic and metal components, fasteners and assemblies for cars, vans and other industrial purposes.
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