World Asset Management Inc Trims Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

World Asset Management Inc lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,097 shares of the industrial products company’s stock after selling 538 shares during the period. World Asset Management Inc’s holdings in Illinois Tool Works were worth $1,673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Clearstead Advisors LLC raised its holdings in shares of Illinois Tool Works by 0.4% during the second quarter. Clearstead Advisors LLC now owns 12,108 shares of the industrial products company’s stock worth $2,707,000 after purchasing an additional 45 shares during the last quarter. Exeter Financial LLC lifted its holdings in shares of Illinois Tool Works by 0.5% in the 3rd quarter. Exeter Financial LLC now owns 8,820 shares of the industrial products company’s stock valued at $1,822,000 after buying an additional 45 shares during the period. WBH Advisory Inc. grew its holdings in Illinois Tool Works by 2.2% during the third quarter. WBH Advisory Inc. now owns 2,115 shares of the industrial products company’s stock worth $437,000 after acquiring an additional 45 shares during the period. Valeo Financial Advisors LLC raised its position in Illinois Tool Works by 4.9% during the third quarter. Valeo Financial Advisors LLC now owns 970 shares of the industrial products company’s stock valued at $201,000 after acquiring an additional 45 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its holdings in Illinois Tool Works by 0.7% in the second quarter. Moneta Group Investment Advisors LLC now owns 6,222 shares of the industrial products company’s stock valued at $1,391,000 after acquiring an additional 46 shares during the period. Institutional investors and hedge funds own 78.15% of the company’s stock.

In other news, EVP Lei Zhang Schlitz sold 8,800 shares of the stock in a transaction dated Tuesday, December 7th. The shares were sold at an average price of $241.16, for a total transaction of $2,122,208.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jay L. Henderson bought 10,000 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, November 10th. The shares were acquired at an average price of $235.29 per share, for a total transaction of $2,352,900.00. The disclosure for this purchase can be found here. Insiders own 0.80% of the company’s stock.

Several analysts recently commented on the stock. Zacks Investment Research lowered shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $239.00 price target on the stock. in a research report on Monday, November 1st. Barclays cut their price target on shares of Illinois Tool Works from $217.00 to $212.00 and set an “underweight” rating for the company in a report on Friday, October 29th. Bank of America dropped their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set a “neutral” rating on the stock in a research report on Friday, October 29th. Morgan Stanley upped their price target on shares of Illinois Tool Works from $198.00 to $206.00 and gave the stock an “underweight” rating in a research report on Friday, October 29th. Finally, The Goldman Sachs Group lifted their price objective on Illinois Tool Works from $239.00 to $263.00 and gave the stock a “neutral” rating in a report on Monday, December 13th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $235.36.

Shares of NYSE ITW traded down $1.60 during midday trading on Friday, hitting $245.41. The company’s stock had a trading volume of 266 shares, compared to its average volume of 811,166. The business’s fifty day simple moving average is $240.84 and its two-hundred day simple moving average is $230.00. The firm has a market capitalization of $77.03 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 2.18 and a beta of 1.10. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.20 and a quick ratio of 1.69. Illinois Tool Works Inc. has a 1 year low of $192.89 and a 1 year high of $249.81.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Thursday, October 28th. The industrial products company reported $2.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.01 by $0.01. Illinois Tool Works had a return on equity of 78.53% and a net margin of 19.14%. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the business earned $1.83 EPS. Illinois Tool Works’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts anticipate that Illinois Tool Works Inc. will post 8.19 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 14th. Shareholders of record on Friday, December 31st will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Thursday, December 30th. This represents a $4.88 dividend on an annualized basis and a yield of 1.99%. Illinois Tool Works’s payout ratio is currently 56.74%.

Illinois Tool Works Profile

Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)