Horan Capital Advisors LLC. Sells 186 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Horan Capital Advisors LLC. decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,605 shares of the industrial products company’s stock after selling 186 shares during the period. Illinois Tool Works comprises approximately 1.4% of Horan Capital Advisors LLC.’s holdings, making the stock its 22nd largest position. Horan Capital Advisors LLC.’s holdings in Illinois Tool Works were worth $4,090,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Capital Research Global Investors increased its stake in shares of Illinois Tool Works by 1.2% in the first quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock worth $1,171,006,000 after purchasing an additional 51,654 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Illinois Tool Works by 2.4% during the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock worth $640,425,000 after acquiring an additional 62,645 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Illinois Tool Works by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock valued at $361,998,000 after acquiring an additional 133,853 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Illinois Tool Works by 0.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,247,066 shares of the industrial products company’s stock valued at $326,819,000 after acquiring an additional 9,563 shares during the last quarter. Finally, Guinness Asset Management LTD lifted its stake in Illinois Tool Works by 4.6% in the 3rd quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock worth $210,447,000 after purchasing an additional 35,145 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.2 %

ITW opened at $270.07 on Tuesday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $277.58. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The stock has a market cap of $79.75 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 4.19 and a beta of 1.10. The stock’s 50 day moving average price is $260.56 and its 200-day moving average price is $249.18.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the company posted $2.55 EPS. Illinois Tool Works’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ITW. Robert W. Baird raised their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, Argus raised Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $257.30.

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.