Ascent Wealth Partners LLC Decreases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Ascent Wealth Partners LLC trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,286 shares of the industrial products company’s stock after selling 302 shares during the period. Ascent Wealth Partners LLC’s holdings in Illinois Tool Works were worth $7,151,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Financial Connections Group Inc. bought a new stake in Illinois Tool Works during the second quarter valued at approximately $30,000. Fairscale Capital LLC bought a new stake in Illinois Tool Works during the second quarter valued at approximately $30,000. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works during the third quarter valued at approximately $32,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works during the third quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. grew its position in Illinois Tool Works by 261.4% during the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after buying an additional 115 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ITW shares. Barclays boosted their target price on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company upped their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $256.40.

Illinois Tool Works Price Performance

Shares of NYSE:ITW traded down $0.62 during midday trading on Thursday, reaching $274.85. 2,444 shares of the company were exchanged, compared to its average volume of 1,057,734. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The business’s fifty day moving average is $256.78 and its two-hundred day moving average is $247.80. Illinois Tool Works Inc. has a one year low of $227.66 and a one year high of $277.58. The stock has a market cap of $81.16 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 3.85 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the business earned $2.55 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, analysts predict that Illinois Tool Works Inc. will post 10.75 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s payout ratio is 51.90%.

Illinois Tool Works Company Profile

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.