Capital Investment Advisors LLC Reduces Stake in Illinois Tool Works Inc. (NYSE:ITW)



Capital Investment Advisors LLC lowered its position in Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,048 shares of the industrial products company’s stock after selling 281 shares during the period. Capital Investment Advisors LLC’s holdings in Illinois Tool Works were worth $2,104,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ITW. National Asset Management Inc. boosted its position in Illinois Tool Works by 16.9% in the third quarter. National Asset Management Inc. Now owns 2,637 shares of the industrial products company’s stock valued at $545,000 after buying an additional 382 during the last quarter. Janus Henderson Group PLC boosted its position in Illinois Tool Works by 26.0% in the third quarter. Janus Henderson Group PLC now owns 129,954 shares of the industrial products company’s stock valued at $26,852,000 after buying an additional 26,840 shares during the last quarter. Atria Investments LLC boosted its position in Illinois Tool Works by 6.9% in the third quarter. Atria Investments LLC now owns 17,938 shares of the industrial products company’s stock valued at $3,707,000 after buying an additional 1,156 shares during the last quarter. Cetera Advisors LLC boosted its position in Illinois Tool Works by 72.3% in the third quarter. Cetera Advisors LLC now owns 7,820 shares of the industrial products company’s stock valued at $1,616,000 after buying an additional 3,281 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in Illinois Tool Works by 72.8% in the third quarter. Captrust Financial Advisors now owns 30,109 shares of the industrial products company’s stock valued at $6,258,000 after buying an additional 12,688 shares during the last quarter. Hedge funds and other institutional investors own 79.03% of the company’s stock.

In related news, EVP Lei Zhang Schlitz sold 1,000 shares of the stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $205.34, for a total value of $205,340.00. Following the completion of the transaction, the executive vice president now directly owns 7,803 shares of the company’s stock, valued at approximately $1,602,268.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.78% of the stock is currently owned by corporate insiders.

Several research firms have commented on ITW. Credit Suisse Group lowered their objective price on 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 their objective price for the stock from $262.00 to $255.00 in a research report on Monday, March 28th. StockNews.com began coverage on Illinois Tool Works in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley lowered their objective price on Illinois Tool Works from $187.00 to $182.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 31st. Finally, Deutsche Bank Aktiengesellschaft lowered their objective price on Illinois Tool Works from $236.00 to $226.00 and set a “hold” rating on the stock in a research report on Thursday, April 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $230.55.

Shares of NYSE:ITW opened at $187.92 on Friday. Illinois Tool Works Inc. has a 1 year low of $177.33 and a 1 year high of $249.81. The firm has a market capitalization of $58.53 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-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 quick ratio of 1.24. The business’s 50 day moving average price is $200.39 and its 200-day moving average price is $216.42.

Illinois Tool Works (NYSE:ITW – Get Rating) last posted 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 had a return on equity of 72.57% and a net margin of 18.08%. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the company earned $2.11 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 9.16 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 14th. Investors of record on Thursday, June 30th will be paid a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, June 29th. Illinois Tool Works’s dividend payout ratio is currently 57.34%.

Illinois Tool Works Company Profile (Get Rating)

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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