Ascent Wealth Partners LLC Sells 302 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Ascent Wealth Partners LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,286 shares of the industrial products company’s stock after selling 302 shares during the period. Ascent Wealth Partners LLC’s holdings in Illinois Tool Works were worth $7,151,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. PEAK6 Investments LLC boosted its holdings in Illinois Tool Works by 17.5% in the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after buying an additional 140 shares during the period. GSA Capital Partners LLP bought a new position in Illinois Tool Works in the 1st quarter worth approximately $1,147,000. Envestnet Portfolio Solutions Inc. boosted its holdings in Illinois Tool Works by 78.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock worth $9,907,000 after buying an additional 16,216 shares during the period. Handelsbanken Fonder AB boosted its holdings in Illinois Tool Works by 7.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock worth $37,999,000 after buying an additional 9,825 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Illinois Tool Works by 28.6% in the 1st quarter. Russell Investments Group Ltd. now owns 201,720 shares of the industrial products company’s stock worth $54,122,000 after buying an additional 44,898 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Down 0.2 %

NYSE:ITW traded down $0.62 during mid-day trading on Thursday, hitting $274.85. 2,444 shares of the company’s stock were exchanged, compared to its average volume of 1,057,734. Illinois Tool Works Inc. has a one year low of $227.66 and a one year high of $277.58. 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 business has a fifty day moving average price of $256.78 and a 200 day moving average price of $247.80. The company has a market cap of $81.16 billion, a PE ratio of 23.83, a P/E/G ratio of 3.85 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.55 earnings per share. Equities analysts predict that Illinois Tool Works Inc. will post 10.75 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.18%. Illinois Tool Works’s payout ratio is 51.90%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays increased their target price on shares of Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Evercore ISI lowered their target price on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Robert W. Baird increased their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company increased their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $256.40.

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.