Applied Capital LLC FL Sells 50 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Applied Capital LLC FL decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,217 shares of the industrial products company’s stock after selling 50 shares during the quarter. Illinois Tool Works makes up approximately 1.7% of Applied Capital LLC FL’s holdings, making the stock its 19th largest holding. Applied Capital LLC FL’s holdings in Illinois Tool Works were worth $2,153,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lynch & Associates IN boosted its holdings in Illinois Tool Works by 1.0% in the third quarter. Lynch & Associates IN now owns 16,021 shares of the industrial products company’s stock valued at $4,198,000 after acquiring an additional 164 shares during the last quarter. Brady Family Wealth LLC lifted its position in Illinois Tool Works by 1.4% during the 3rd quarter. Brady Family Wealth LLC now owns 17,726 shares of the industrial products company’s stock valued at $4,645,000 after purchasing an additional 244 shares during the period. First Pacific Financial boosted its stake in shares of Illinois Tool Works by 2.7% in the 3rd quarter. First Pacific Financial now owns 3,604 shares of the industrial products company’s stock valued at $944,000 after purchasing an additional 95 shares during the last quarter. Swedbank AB grew its position in shares of Illinois Tool Works by 2.0% during the 3rd quarter. Swedbank AB now owns 88,015 shares of the industrial products company’s stock worth $23,066,000 after buying an additional 1,768 shares during the period. Finally, Birch Capital Management LLC raised its stake in shares of Illinois Tool Works by 2.0% during the third quarter. Birch Capital Management LLC now owns 9,780 shares of the industrial products company’s stock worth $2,563,000 after buying an additional 194 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 0.0 %

Shares of ITW stock opened at $261.47 on Wednesday. Illinois Tool Works Inc. has a 12-month low of $217.50 and a 12-month high of $271.15. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The firm has a fifty day moving average of $251.04 and a 200-day moving average of $247.41. The company has a market capitalization of $78.02 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.09. The firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $2.41 EPS. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $1.50 per share. The ex-dividend date was Monday, September 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.29%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio is 59.17%.

Analysts Set New Price Targets

ITW has been the subject of a number of analyst reports. Barclays lowered their target price on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a report on Wednesday, July 31st. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Wells Fargo & Company boosted their target price on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Evercore ISI reduced their price objective on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $255.22.

About Illinois Tool Works

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.