Illinois Tool Works Inc. (ITW) Position Reduced by Carret Asset Management LLC

Carret Asset Management LLC lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,045 shares of the industrial products company’s stock after selling 429 shares during the period. Carret Asset Management LLC’s holdings in Illinois Tool Works were worth $2,522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ITW. RMB Capital Management LLC lifted its position in shares of Illinois Tool Works by 2.7% during the 1st quarter. RMB Capital Management LLC now owns 58,016 shares of the industrial products company’s stock valued at $7,685,000 after acquiring an additional 1,532 shares during the period. BlackRock Inc. lifted its position in shares of Illinois Tool Works by 1,661.3% during the 1st quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock valued at $2,559,083,000 after acquiring an additional 18,221,359 shares during the period. Dynamic Capital Management Ltd lifted its position in shares of Illinois Tool Works by 816.2% during the 1st quarter. Dynamic Capital Management Ltd now owns 41,073 shares of the industrial products company’s stock valued at $5,441,000 after acquiring an additional 36,590 shares during the period. Brown Advisory Securities LLC lifted its position in shares of Illinois Tool Works by 4.0% during the 1st quarter. Brown Advisory Securities LLC now owns 2,578 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 100 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Illinois Tool Works by 1.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,049,215 shares of the industrial products company’s stock valued at $138,990,000 after acquiring an additional 14,974 shares during the period. Hedge funds and other institutional investors own 74.83% of the company’s stock.

Shares of Illinois Tool Works Inc. (ITW) traded up $0.88 during trading on Thursday, hitting $167.19. 368,544 shares of the stock were exchanged, compared to its average volume of 1,207,004. The firm has a market cap of $56,535.69, a price-to-earnings ratio of 26.19, a PEG ratio of 2.47 and a beta of 1.18. The company has a current ratio of 2.41, a quick ratio of 1.98 and a debt-to-equity ratio of 1.48. Illinois Tool Works Inc. has a 1-year low of $120.06 and a 1-year high of $169.69.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio is presently 47.78%.

Several research firms have commented on ITW. Argus reaffirmed a “buy” rating and issued a $180.00 target price (up from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. BMO Capital Markets lifted their target price on shares of Illinois Tool Works to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday. Credit Suisse Group lowered their target price on shares of Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, October 24th. Royal Bank Of Canada reissued a “sector perform” rating and set a $155.00 price objective (up from $143.00) on shares of Illinois Tool Works in a research note on Friday, October 20th. They noted that the move was a valuation call. Finally, Citigroup reissued a “buy” rating and set a $162.00 price objective on shares of Illinois Tool Works in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $162.67.

In related news, VP Norman D. Jr. Finch acquired 4,986 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was acquired at an average cost of $156.34 per share, for a total transaction of $779,511.24. Following the completion of the acquisition, the vice president now directly owns 4,371 shares of the company’s stock, valued at approximately $683,362.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven L. Martindale sold 64,818 shares of the stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the completion of the transaction, the insider now owns 95,328 shares of the company’s stock, valued at $14,984,608.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,324 shares of company stock valued at $30,653,014. Insiders own 0.90% of the company’s stock.

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About Illinois Tool Works

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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