Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 81.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,051 shares of the industrial products company’s stock after selling 4,756 shares during the period. GSA Capital Partners LLP’s holdings in Illinois Tool Works were worth $275,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ITW. International Assets Investment Management LLC lifted its holdings in Illinois Tool Works by 26,088.4% in the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after acquiring an additional 322,192 shares during the last quarter. AXA S.A. lifted its holdings in Illinois Tool Works by 242.3% in the second quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock valued at $80,888,000 after acquiring an additional 241,618 shares during the last quarter. Guinness Asset Management LTD lifted its holdings in Illinois Tool Works by 30.7% in the second quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company’s stock valued at $181,926,000 after acquiring an additional 180,458 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Illinois Tool Works by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock valued at $361,998,000 after acquiring an additional 133,853 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Illinois Tool Works by 75.1% in the second quarter. Renaissance Technologies LLC now owns 258,000 shares of the industrial products company’s stock valued at $61,136,000 after acquiring an additional 110,673 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on ITW. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price target for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird upped their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Barclays upped their price target 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. Finally, Wells Fargo & Company upped their price target 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. Four analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $257.30.

Illinois Tool Works Stock Up 1.5 %

Shares of NYSE ITW opened at $273.95 on Friday. The stock has a market cap of $80.90 billion, a P/E ratio of 23.70, a PEG ratio of 4.18 and a beta of 1.10. 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 Inc. has a 12-month low of $232.77 and a 12-month high of $277.58. The business’s fifty day simple moving average is $262.20 and its 200-day simple moving average is $249.82.

Illinois Tool Works (NYSE:ITW) last posted 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. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.55 earnings per share. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued 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%.

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.