Fishman Jay A Ltd. MI Decreases Stake in Illinois Tool Works Inc. (NYSE:ITW)

Fishman Jay A Ltd. MI reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 31.3% during the third quarter, Holdings Channel.com reports. The firm owned 2,200 shares of the industrial products company’s stock after selling 1,000 shares during the period. Fishman Jay A Ltd. MI’s holdings in Illinois Tool Works were worth $344,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ITW. Delta Asset Management LLC TN boosted its stake in shares of Illinois Tool Works by 8.0% in the third quarter. Delta Asset Management LLC TN now owns 809 shares of the industrial products company’s stock worth $127,000 after acquiring an additional 60 shares during the period. Blue Chip Partners Inc. increased its holdings in shares of Illinois Tool Works by 1.6% in the 3rd quarter. Blue Chip Partners Inc. now owns 3,812 shares of the industrial products company’s stock valued at $597,000 after acquiring an additional 61 shares during the period. Gables Capital Management Inc. increased its holdings in shares of Illinois Tool Works by 3.4% in the 3rd quarter. Gables Capital Management Inc. now owns 1,858 shares of the industrial products company’s stock valued at $290,000 after acquiring an additional 61 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of Illinois Tool Works by 6.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,015 shares of the industrial products company’s stock valued at $159,000 after acquiring an additional 64 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of Illinois Tool Works by 25.1% in the 3rd quarter. Allworth Financial LP now owns 349 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 70 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

In other Illinois Tool Works news, EVP Michael R. Zimmerman sold 6,600 shares of Illinois Tool Works stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $172.43, for a total transaction of $1,138,038.00. Following the completion of the sale, the executive vice president now owns 13,590 shares of the company’s stock, valued at approximately $2,343,323.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrew Mines sold 12,995 shares of Illinois Tool Works stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $167.71, for a total value of $2,179,391.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 346,180 shares of company stock valued at $57,725,646. 0.87% of the stock is currently owned by insiders.

ITW stock traded down $0.10 on Friday, hitting $176.41. 995,797 shares of the company’s stock were exchanged, compared to its average volume of 1,318,047. Illinois Tool Works Inc. has a 12-month low of $117.75 and a 12-month high of $179.29. The firm has a 50 day moving average price of $160.07 and a two-hundred day moving average price of $153.13. The company has a debt-to-equity ratio of 2.57, a quick ratio of 2.27 and a current ratio of 2.81. The stock has a market cap of $56.63 billion, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 2.99 and a beta of 1.22.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, October 25th. The industrial products company reported $2.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.10. Illinois Tool Works had a return on equity of 80.38% and a net margin of 17.49%. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the previous year, the business earned $1.76 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Sell-side analysts expect that Illinois Tool Works Inc. will post 7.7 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $4.28 dividend on an annualized basis and a yield of 2.43%. Illinois Tool Works’s dividend payout ratio is currently 56.32%.

A number of brokerages have recently issued reports on ITW. Argus set a $180.00 price target on Illinois Tool Works and gave the company a “buy” rating in a report on Friday, October 25th. Citigroup dropped their target price on Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Goldman Sachs Group downgraded Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 target price on the stock. in a research note on Monday, September 23rd. They noted that the move was a valuation call. Credit Suisse Group boosted their target price on Illinois Tool Works from $144.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Finally, Zacks Investment Research downgraded Illinois Tool Works from a “hold” rating to a “sell” rating and set a $180.00 target price on the stock. in a research note on Monday, October 28th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $150.57.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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

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