Independent Advisor Alliance Sells 47 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Independent Advisor Alliance lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,100 shares of the industrial products company’s stock after selling 47 shares during the quarter. Independent Advisor Alliance’s holdings in Illinois Tool Works were worth $4,743,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC increased its stake in Illinois Tool Works by 4.2% in the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after acquiring an additional 135,023 shares during the last quarter. Legal & General Group Plc increased its stake in Illinois Tool Works by 2.4% in the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after acquiring an additional 62,645 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Illinois Tool Works by 9.6% in 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 during the last quarter. PNC Financial Services Group Inc. increased its stake in Illinois Tool Works by 0.8% in the third 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 increased its stake in Illinois Tool Works by 4.6% in the third quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock valued at $210,447,000 after acquiring an additional 35,145 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ITW. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company raised their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Barclays raised their price objective 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. Argus raised Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $257.30.

Illinois Tool Works Stock Performance

Shares of ITW opened at $273.95 on Monday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $277.58. The company has a 50-day simple moving average of $262.20 and a two-hundred day simple moving average of $249.84. The firm has a market capitalization of $80.90 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 4.25 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the business posted $2.55 earnings per share. Illinois Tool Works’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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 issued a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.19%. Illinois Tool Works’s payout ratio is 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.