Los Angeles Capital Management LLC Reduces Position in Illinois Tool Works Inc. (NYSE:ITW)

Los Angeles Capital Management LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.4% during the third quarter, Holdings Channel.com reports. The fund owned 26,743 shares of the industrial products company’s stock after selling 119 shares during the period. Los Angeles Capital Management LLC’s holdings in Illinois Tool Works were worth $7,009,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. QRG Capital Management Inc. grew its stake in shares of Illinois Tool Works by 2.0% in the first quarter. QRG Capital Management Inc. now owns 13,385 shares of the industrial products company’s stock valued at $3,592,000 after buying an additional 268 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Illinois Tool Works by 28.6% in the first quarter. Russell Investments Group Ltd. now owns 201,720 shares of the industrial products company’s stock valued at $54,122,000 after purchasing an additional 44,898 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Illinois Tool Works by 5.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 10,864 shares of the industrial products company’s stock worth $2,915,000 after buying an additional 513 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of Illinois Tool Works by 1.0% in the first quarter. Bleakley Financial Group LLC now owns 6,829 shares of the industrial products company’s stock worth $1,833,000 after acquiring an additional 68 shares in the last quarter. Finally, Sheets Smith Wealth Management increased its position in shares of Illinois Tool Works by 7.7% during the first quarter. Sheets Smith Wealth Management now owns 908 shares of the industrial products company’s stock worth $244,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.9 %

NYSE:ITW opened at $274.46 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 52-week low of $231.21 and a 52-week high of $277.58. The stock’s 50 day moving average price is $257.60 and its 200 day moving average price is $248.09. The company has a market capitalization of $81.05 billion, a PE ratio of 23.74, a P/E/G ratio of 4.22 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $4.02 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. Illinois Tool Works’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Analyst Ratings Changes

Several brokerages have weighed in on ITW. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Evercore ISI lowered their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. raised their price target on 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 given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $256.40.

Illinois Tool Works 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.