Chicago Capital LLC Trims Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Chicago Capital LLC cut its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,903 shares of the industrial products company’s stock after selling 160 shares during the period. Chicago Capital LLC’s holdings in Illinois Tool Works were worth $7,837,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Financial Connections Group Inc. acquired a new position in Illinois Tool Works during the second quarter valued at $30,000. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works in the first quarter worth about $34,000. Meeder Asset Management Inc. grew its holdings in Illinois Tool Works by 261.4% during the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 115 shares during the period. Finally, Valued Wealth Advisors LLC raised its position in Illinois Tool Works by 2,162.5% during the second quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 173 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

NYSE:ITW opened at $261.03 on Friday. The company has a market capitalization of $77.89 billion, a P/E ratio of 25.74, a P/E/G ratio of 4.10 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15. The stock’s fifty day moving average is $252.37 and its two-hundred day moving average is $247.45.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the firm earned $2.41 EPS. Illinois Tool Works’s revenue was down 1.2% on a year-over-year basis. Equities analysts expect that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.30%. The ex-dividend date was Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio (DPR) is 59.17%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ITW. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Jefferies Financial Group dropped their target price on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Evercore ISI dropped their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Stifel Nicolaus boosted their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $255.44.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.