Illinois Tool Works Inc. (ITW) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 218,301 shares of the industrial products company’s stock after selling 5,246 shares during the quarter. King Luther Capital Management Corp owned approximately 0.06% of Illinois Tool Works worth $32,300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Omnia Family Wealth LLC boosted its stake in shares of Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 2 shares during the last quarter. Private Vista LLC raised its position in shares of Illinois Tool Works by 13,697.3% in the 2nd quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock valued at $108,000 after acquiring an additional 277,508 shares during the period. Harding Loevner LP acquired a new stake in shares of Illinois Tool Works in the 2nd quarter valued at approximately $115,000. WFG Advisors LP raised its position in shares of Illinois Tool Works by 24.7% in the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 161 shares during the period. Finally, Salem Investment Counselors Inc. raised its position in shares of Illinois Tool Works by 1.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 17 shares during the period. 74.83% of the stock is currently owned by institutional investors.

A number of analysts recently weighed in on the stock. Wells Fargo & Company set a $190.00 price target on shares of Illinois Tool Works and gave the company a “buy” rating in a research report on Monday. Jefferies Group reiterated a “buy” rating and issued a $190.00 price target on shares of Illinois Tool Works in a research report on Wednesday, November 29th. Robert W. Baird reiterated a “hold” rating and issued a $160.00 price target on shares of Illinois Tool Works in a research report on Sunday. Stifel Nicolaus reiterated a “hold” rating and issued a $147.00 price target on shares of Illinois Tool Works in a research report on Wednesday, August 16th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $147.00 price target (up from $136.00) on shares of Illinois Tool Works in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $160.93.

In other news, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $150.00, for a total transaction of $979,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Norman D. Jr. Finch purchased 4,986 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were acquired at an average cost of $156.34 per share, with a total value of $779,511.24. Following the completion of the purchase, the vice president now directly owns 4,371 shares in the company, valued at $683,362.14. The disclosure for this purchase can be found here. Insiders have sold a total of 126,506 shares of company stock worth $19,801,832 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Shares of Illinois Tool Works Inc. (NYSE ITW) traded up $1.35 during mid-day trading on Tuesday, reaching $166.22. 2,221,500 shares of the company’s stock traded hands, compared to its average volume of 1,208,365. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 1.48. The firm has a market cap of $56,484.30, a P/E ratio of 26.17, a P/E/G ratio of 2.46 and a beta of 1.18. Illinois Tool Works Inc. has a 52-week low of $120.06 and a 52-week high of $169.69.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.65 by $0.20. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.57 billion. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the company posted $1.50 EPS. sell-side analysts forecast that Illinois Tool Works Inc. will post 6.69 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.78 per share. The ex-dividend date is Thursday, December 28th. This represents a $3.12 annualized dividend and a yield of 1.88%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 47.78%.

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Illinois Tool Works Company Profile

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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