Planning Capital Management Corp Has $108,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Planning Capital Management Corp cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 31.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 414 shares of the industrial products company’s stock after selling 194 shares during the quarter. Planning Capital Management Corp’s holdings in Illinois Tool Works were worth $108,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. PEAK6 Investments LLC boosted its stake in Illinois Tool Works by 17.5% in the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after buying an additional 140 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Illinois Tool Works by 7.3% in the third quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock valued at $37,999,000 after buying an additional 9,825 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in Illinois Tool Works in the third quarter valued at about $1,179,000. BDF Gestion acquired a new stake in Illinois Tool Works in the second quarter valued at about $1,727,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Illinois Tool Works by 7.8% during the second quarter. NewEdge Advisors LLC now owns 175,921 shares of the industrial products company’s stock valued at $41,686,000 after purchasing an additional 12,804 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on ITW shares. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price target for the company from $246.00 to $255.00 in a research note on Wednesday. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Argus raised Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Robert W. Baird lifted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Barclays lifted their price target on Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and an average target price of $257.30.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $272.96 on Thursday. The stock’s 50 day moving average is $259.02 and its 200 day moving average is $248.61. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The firm has a market cap of $80.61 billion, a P/E ratio of 23.61, a P/E/G ratio of 4.21 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $277.58.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.55 earnings per share. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.20%. Illinois Tool Works’s payout ratio is currently 51.90%.

About Illinois Tool Works

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.