Atria Investments Inc Has $4.73 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Atria Investments Inc cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,044 shares of the industrial products company’s stock after selling 1,049 shares during the period. Atria Investments Inc’s holdings in Illinois Tool Works were worth $4,729,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ITW. Essex Savings Bank grew its stake in shares of Illinois Tool Works by 2.1% in the third quarter. Essex Savings Bank now owns 4,098 shares of the industrial products company’s stock valued at $1,074,000 after buying an additional 85 shares in the last quarter. Kerusso Capital Management LLC increased its stake in shares of Illinois Tool Works by 6.4% during the 3rd quarter. Kerusso Capital Management LLC now owns 9,003 shares of the industrial products company’s stock worth $2,359,000 after purchasing an additional 543 shares during the last quarter. Tompkins Financial Corp lifted its stake in Illinois Tool Works by 16.1% in the 3rd quarter. Tompkins Financial Corp now owns 1,988 shares of the industrial products company’s stock valued at $521,000 after purchasing an additional 276 shares during the last quarter. Assetmark Inc. grew its holdings in Illinois Tool Works by 6.4% during the third quarter. Assetmark Inc. now owns 1,903 shares of the industrial products company’s stock worth $499,000 after purchasing an additional 114 shares during the period. Finally, Verdence Capital Advisors LLC increased its position in Illinois Tool Works by 2.3% during the third quarter. Verdence Capital Advisors LLC now owns 9,808 shares of the industrial products company’s stock worth $2,570,000 after buying an additional 218 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $271.20 on Wednesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a fifty-two week low of $231.21 and a fifty-two week high of $277.58. The company has a market cap of $80.09 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 4.22 and a beta of 1.10. The stock has a fifty day moving average price of $258.03 and a 200-day moving average price of $248.27.

Illinois Tool Works (NYSE:ITW) last released its 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 for the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the firm earned $2.55 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ITW shares. Barclays lifted their target price on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Wells Fargo & Company upped their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Evercore ISI cut their target price on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and an average price target 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.