Eudaimonia Partners LLC Cuts Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Eudaimonia Partners LLC trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITWGet Rating) by 57.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,175 shares of the industrial products company’s stock after selling 1,559 shares during the quarter. Eudaimonia Partners LLC’s holdings in Illinois Tool Works were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its holdings in Illinois Tool Works by 1.5% during the 2nd quarter. State Street Corp now owns 12,821,085 shares of the industrial products company’s stock worth $2,351,994,000 after acquiring an additional 187,268 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Illinois Tool Works by 5.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,902,872 shares of the industrial products company’s stock worth $1,236,063,000 after purchasing an additional 326,412 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Illinois Tool Works by 25.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,805,831 shares of the industrial products company’s stock worth $511,363,000 after purchasing an additional 562,273 shares during the period. Legal & General Group Plc raised its stake in shares of Illinois Tool Works by 2.8% during the 2nd quarter. Legal & General Group Plc now owns 2,489,641 shares of the industrial products company’s stock worth $453,740,000 after purchasing an additional 67,298 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Illinois Tool Works by 11.6% during the 1st quarter. Invesco Ltd. now owns 1,370,746 shares of the industrial products company’s stock worth $287,034,000 after purchasing an additional 142,604 shares during the period. 79.83% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $229.35 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.41 and a debt-to-equity ratio of 1.97. The company has a market cap of $70.45 billion, a PE ratio of 26.18, a P/E/G ratio of 3.25 and a beta of 1.11. The business has a 50 day moving average of $224.70 and a 200 day moving average of $208.68. Illinois Tool Works Inc. has a 52 week low of $173.52 and a 52 week high of $247.00.

Illinois Tool Works (NYSE:ITWGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.10. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.90 billion. Illinois Tool Works had a return on equity of 80.65% and a net margin of 17.49%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.02 earnings per share. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 9.46 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 12th. Shareholders of record on Friday, December 30th were issued a $1.31 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $5.24 dividend on an annualized basis and a yield of 2.28%. Illinois Tool Works’s dividend payout ratio (DPR) is 59.82%.

Insiders Place Their Bets

In other news, Director David Byron Smith, Jr. acquired 1,390 shares of the firm’s stock in a transaction on Friday, December 9th. The stock was acquired at an average price of $221.81 per share, for a total transaction of $308,315.90. Following the completion of the acquisition, the director now owns 118,994 shares in the company, valued at $26,394,059.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.78% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ITW shares. Citigroup lifted their target price on Illinois Tool Works from $202.00 to $232.00 and gave the stock a “neutral” rating in a research note on Friday, December 9th. Barclays boosted their price objective on Illinois Tool Works from $172.00 to $184.00 and gave the company an “underweight” rating in a research note on Thursday, January 5th. Morgan Stanley boosted their price objective on Illinois Tool Works from $172.00 to $174.00 and gave the company an “underweight” rating in a research note on Friday, January 6th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, October 26th. Finally, Robert W. Baird boosted their price objective on Illinois Tool Works from $200.00 to $222.00 and gave the company a “neutral” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $207.64.

Illinois Tool Works Company Profile

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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.

See Also

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

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