Aptus Capital Advisors LLC Lowers Position in Illinois Tool Works Inc. (NYSE:ITW)

Aptus Capital Advisors LLC reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,815 shares of the industrial products company’s stock after selling 85 shares during the period. Aptus Capital Advisors LLC’s holdings in Illinois Tool Works were worth $1,262,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ITW. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works in the 2nd quarter worth approximately $30,000. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works in the third quarter valued at approximately $32,000. Financial Connections Group Inc. acquired a new position in Illinois Tool Works during the second quarter worth $30,000. Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works during the third quarter worth $35,000. Finally, Meeder Asset Management Inc. boosted its position in shares of 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 worth $38,000 after buying an additional 115 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 1.1 %

Shares of NYSE:ITW opened at $269.89 on Friday. The company has a market cap of $79.70 billion, a PE ratio of 23.35, a P/E/G ratio of 4.21 and a beta of 1.10. The company’s 50 day moving average is $259.02 and its two-hundred day moving average is $248.61. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $277.58. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period last year, the firm earned $2.55 earnings per share. Illinois Tool Works’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts predict that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.22%. Illinois Tool Works’s payout ratio is currently 51.90%.

Analyst Ratings Changes

Several equities analysts recently issued reports on ITW shares. Wells Fargo & Company increased their target price on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Robert W. Baird increased their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $246.00 to $255.00 in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $257.30.

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.