World Asset Management Inc Sells 538 Shares of Illinois Tool Works Inc. (NYSE:ITW)

World Asset Management Inc cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,097 shares of the industrial products company’s stock after selling 538 shares during the period. World Asset Management Inc’s holdings in Illinois Tool Works were worth $1,673,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ITW. Toronto Dominion Bank raised its stake in Illinois Tool Works by 4.6% in the 2nd quarter. Toronto Dominion Bank now owns 139,457 shares of the industrial products company’s stock valued at $31,176,000 after acquiring an additional 6,118 shares during the period. Sumitomo Mitsui Financial Group Inc. grew its stake in Illinois Tool Works by 41.0% in the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 6,179 shares of the industrial products company’s stock valued at $1,277,000 after buying an additional 1,797 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Illinois Tool Works by 83.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 172,734 shares of the industrial products company’s stock valued at $35,937,000 after acquiring an additional 78,798 shares during the period. Barclays PLC grew its position in shares of Illinois Tool Works by 13.5% in the third quarter. Barclays PLC now owns 669,996 shares of the industrial products company’s stock valued at $138,444,000 after purchasing an additional 79,930 shares during the last quarter. Finally, Richard C. Young & CO. LTD. grew its holdings in Illinois Tool Works by 2.3% in the 2nd quarter. Richard C. Young & CO. LTD. now owns 58,217 shares of the industrial products company’s stock valued at $13,021,000 after buying an additional 1,297 shares in the last quarter. Institutional investors and hedge funds own 78.15% of the company’s stock.

Shares of Illinois Tool Works stock traded down $1.60 during trading on Friday, hitting $245.41. The stock had a trading volume of 266 shares, compared to its average volume of 811,166. The business’s 50-day moving average is $240.84 and its 200 day moving average is $230.00. Illinois Tool Works Inc. has a 12 month low of $192.89 and a 12 month high of $249.81. The firm has a market cap of $77.03 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 2.18 and a beta of 1.10. The company has a current ratio of 2.20, a quick ratio of 1.69 and a debt-to-equity ratio of 2.00.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, October 28th. The industrial products company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.01. Illinois Tool Works had a net margin of 19.14% and a return on equity of 78.53%. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same period in the previous year, the business earned $1.83 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts expect that Illinois Tool Works Inc. will post 8.19 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 14th. Stockholders of record on Friday, December 31st will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 56.74%.

Several equities analysts recently commented on the stock. Barclays decreased their price target on shares of Illinois Tool Works from $217.00 to $212.00 and set an “underweight” rating on the stock in a research note on Friday, October 29th. Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating and set a $239.00 price objective on the stock. in a research note on Monday, November 1st. Deutsche Bank Aktiengesellschaft dropped their price target on Illinois Tool Works from $231.00 to $220.00 and set a “hold” rating for the company in a research note on Friday, December 10th. Bank of America decreased their price target on Illinois Tool Works from $250.00 to $245.00 and set a “neutral” rating on the stock in a research note on Friday, October 29th. Finally, The Goldman Sachs Group upped their price target on shares of Illinois Tool Works from $239.00 to $263.00 and gave the stock a “neutral” rating in a report on Monday, December 13th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $235.36.

In other Illinois Tool Works news, Director Jay L. Henderson purchased 10,000 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, November 10th. The shares were bought at an average price of $235.29 per share, for a total transaction of $2,352,900.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Lei Zhang Schlitz sold 8,800 shares of the stock in a transaction that occurred on Tuesday, December 7th. The stock was sold at an average price of $241.16, for a total value of $2,122,208.00. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

Illinois Tool Works Company Profile

Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.

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

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