SJS Investment Consulting Inc. Decreases Stake in Illinois Tool Works Inc. (NYSE:ITW)

SJS Investment Consulting Inc. lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 15.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 948 shares of the industrial products company’s stock after selling 168 shares during the quarter. SJS Investment Consulting Inc.’s holdings in Illinois Tool Works were worth $237,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ITW. Creative Capital Management Investments LLC lifted its position in shares of Illinois Tool Works by 145.2% during the 1st quarter. Creative Capital Management Investments LLC now owns 103 shares of the industrial products company’s stock worth $25,000 after buying an additional 61 shares during the last quarter. Sturgeon Ventures LLP purchased a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $26,000. Quarry LP lifted its position in shares of Illinois Tool Works by 52.7% during the 1st quarter. Quarry LP now owns 142 shares of the industrial products company’s stock worth $35,000 after buying an additional 49 shares during the last quarter. AXS Investments LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $40,000. Finally, Ritter Daniher Financial Advisory LLC DE lifted its position in shares of Illinois Tool Works by 43.5% during the 1st quarter. Ritter Daniher Financial Advisory LLC DE now owns 165 shares of the industrial products company’s stock worth $40,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 79.56% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded down $1.55 during trading on Tuesday, hitting $236.16. 241,053 shares of the company were exchanged, compared to its average volume of 1,069,300. The company has a market cap of $71.41 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 4.25 and a beta of 1.15. Illinois Tool Works Inc. has a 1 year low of $180.27 and a 1 year high of $264.19. The firm’s fifty day moving average price is $245.99 and its 200 day moving average price is $238.81. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.59 and a quick ratio of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.39 by $0.02. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.14 billion. Illinois Tool Works had a net margin of 19.30% and a return on equity of 94.14%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.37 EPS. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 9.74 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, September 29th will be given a dividend of $1.40 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.31. This represents a $5.60 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, September 28th. Illinois Tool Works’s payout ratio is presently 51.83%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ITW. Credit Suisse Group lifted their target price on shares of Illinois Tool Works from $281.00 to $292.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $235.00 to $240.00 in a report on Monday, July 10th. Citigroup lifted their target price on shares of Illinois Tool Works from $256.00 to $258.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Morgan Stanley lifted their target price on shares of Illinois Tool Works from $230.00 to $232.00 and gave the company an “underweight” rating in a report on Thursday, August 3rd. Finally, Barclays cut their target price on shares of Illinois Tool Works from $213.00 to $198.00 in a report on Thursday, September 7th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $237.18.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.