Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Great Diamond Partners LLC

Great Diamond Partners LLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 15.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,128 shares of the industrial products company’s stock after selling 906 shares during the period. Great Diamond Partners LLC’s holdings in Illinois Tool Works were worth $1,344,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Financial Connections Group Inc. acquired a new stake in shares of Illinois Tool Works in the second quarter valued at about $30,000. Fairscale Capital LLC purchased a new stake in Illinois Tool Works during the 2nd quarter worth approximately $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works during the third quarter valued at approximately $35,000. Meeder Asset Management Inc. lifted its position in shares of Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 115 shares in the last quarter. Finally, Valued Wealth Advisors LLC boosted its stake in shares of Illinois Tool Works by 2,162.5% in the second quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 173 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ITW shares. Evercore ISI decreased 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. Barclays dropped their price objective on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their target price on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Stifel Nicolaus increased their price target on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group lowered their price objective on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works has an average rating of “Hold” and an average target price of $255.44.

Illinois Tool Works Stock Down 0.4 %

Shares of NYSE:ITW opened at $255.86 on Wednesday. The business has a 50-day moving average price of $254.61 and a 200 day moving average price of $247.15. Illinois Tool Works Inc. has a 12-month low of $221.82 and a 12-month high of $271.15. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. The company has a market capitalization of $75.96 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.41 EPS. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s payout ratio is 58.82%.

Illinois Tool Works Company 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.