Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Trimmed by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,277 shares of the industrial products company’s stock after selling 983 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Illinois Tool Works were worth $8,721,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Nikulski Financial Inc. grew its holdings in shares of Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 39 shares during the last quarter. Steele Capital Management Inc. grew its holdings in Illinois Tool Works by 4.9% in the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after buying an additional 40 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in Illinois Tool Works by 2.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after buying an additional 40 shares in the last quarter. Sigma Planning Corp grew its holdings in Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after buying an additional 41 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in Illinois Tool Works by 1.1% in the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after buying an additional 41 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ITW. Stifel Nicolaus increased their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upped their target price on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Finally, Barclays upped their target price on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $257.30.

Illinois Tool Works Price Performance

Shares of NYSE: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 stock has a fifty day moving average of $260.56 and a 200-day moving average of $249.18. The company has a market capitalization of $79.75 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 4.19 and a beta of 1.10. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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

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.