Illinois Tool Works Inc. (ITW) Holdings Reduced by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 51.1% in the third quarter, HoldingsChannel reports. The firm owned 2,684 shares of the industrial products company’s stock after selling 2,800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Illinois Tool Works were worth $379,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. State Treasurer State of Michigan grew its position in shares of Illinois Tool Works by 150.8% during the second quarter. State Treasurer State of Michigan now owns 226,997 shares of the industrial products company’s stock valued at $31,448,000 after purchasing an additional 136,500 shares in the last quarter. Spearhead Capital Advisors LLC grew its position in shares of Illinois Tool Works by 4.5% during the third quarter. Spearhead Capital Advisors LLC now owns 22,083 shares of the industrial products company’s stock valued at $3,106,000 after purchasing an additional 955 shares in the last quarter. Stephens Inc. AR grew its position in shares of Illinois Tool Works by 8.4% during the second quarter. Stephens Inc. AR now owns 52,327 shares of the industrial products company’s stock valued at $7,249,000 after purchasing an additional 4,038 shares in the last quarter. FDx Advisors Inc. grew its position in shares of Illinois Tool Works by 35.3% during the second quarter. FDx Advisors Inc. now owns 10,410 shares of the industrial products company’s stock valued at $1,442,000 after purchasing an additional 2,717 shares in the last quarter. Finally, Factory Mutual Insurance Co. grew its position in shares of Illinois Tool Works by 2.2% during the third quarter. Factory Mutual Insurance Co. now owns 308,600 shares of the industrial products company’s stock valued at $43,550,000 after purchasing an additional 6,700 shares in the last quarter. Hedge funds and other institutional investors own 76.24% of the company’s stock.

A number of research analysts have recently weighed in on ITW shares. Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Morgan Stanley started coverage on Illinois Tool Works in a research report on Monday, August 20th. They set an “equal weight” rating and a $146.00 price objective for the company. Wells Fargo & Co restated a “buy” rating and set a $150.00 price objective (down previously from $160.00) on shares of Illinois Tool Works in a research report on Wednesday, October 17th. Gordon Haskett started coverage on Illinois Tool Works in a research report on Friday, October 12th. They set a “hold” rating for the company. Finally, ValuEngine lowered Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $150.18.

ITW opened at $127.57 on Thursday. The stock has a market capitalization of $43.50 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.72 and a beta of 1.22. Illinois Tool Works Inc. has a 12 month low of $119.38 and a 12 month high of $179.07. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 1.71.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $1.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.02. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.72 billion. Illinois Tool Works had a return on equity of 63.11% and a net margin of 12.69%. The firm’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $1.71 earnings per share. Analysts anticipate that Illinois Tool Works Inc. will post 7.6 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 9th. Investors of record on Friday, September 28th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $4.00 annualized dividend and a yield of 3.14%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.78. Illinois Tool Works’s dividend payout ratio (DPR) is currently 60.70%.

Illinois Tool Works declared that its board has approved a stock buyback program on Friday, August 3rd that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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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