Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by ORG Partners LLC

ORG Partners LLC decreased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 57.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 635 shares of the industrial products company’s stock after selling 869 shares during the period. ORG Partners LLC’s holdings in Illinois Tool Works were worth $167,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Financial Connections Group Inc. purchased a new position in shares of Illinois Tool Works during the second quarter worth about $30,000. Fairscale Capital LLC purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works in the 1st quarter valued at about $34,000. Rise Advisors LLC purchased a new position in Illinois Tool Works during the 1st quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. lifted its stake in Illinois Tool Works by 261.4% in 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 last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Trading Down 0.0 %

Shares of ITW opened at $261.47 on Wednesday. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. The firm has a market capitalization of $78.02 billion, a P/E ratio of 25.79, a PEG ratio of 4.10 and a beta of 1.10. The firm’s 50-day moving average is $251.04 and its two-hundred day moving average is $247.41.

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 for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations 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 was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.41 EPS. On average, 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $1.50 dividend. The ex-dividend date was Monday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.29%. Illinois Tool Works’s payout ratio is currently 59.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ITW shares. JPMorgan Chase & Co. lifted their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Stifel Nicolaus reduced their target price on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” 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 report on Thursday, October 10th. Argus raised Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Barclays lowered their target price on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.