Moody Lynn & Lieberson LLC lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 61.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,846 shares of the industrial products company’s stock after selling 23,194 shares during the quarter. Moody Lynn & Lieberson LLC’s holdings in Illinois Tool Works were worth $2,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Illinois Tool Works by 8.2% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 513,151 shares of the industrial products company’s stock worth $75,926,000 after purchasing an additional 38,739 shares during the period. Toronto Dominion Bank boosted its holdings in Illinois Tool Works by 9.1% in the third quarter. Toronto Dominion Bank now owns 125,880 shares of the industrial products company’s stock worth $18,626,000 after purchasing an additional 10,529 shares during the period. Dorsey Wright & Associates boosted its holdings in Illinois Tool Works by 30.8% in the third quarter. Dorsey Wright & Associates now owns 13,322 shares of the industrial products company’s stock worth $1,971,000 after purchasing an additional 3,135 shares during the period. New York State Common Retirement Fund boosted its holdings in Illinois Tool Works by 2.0% in the third quarter. New York State Common Retirement Fund now owns 927,450 shares of the industrial products company’s stock worth $137,226,000 after purchasing an additional 17,900 shares during the period. Finally, Retirement Systems of Alabama boosted its holdings in Illinois Tool Works by 7.1% in the third quarter. Retirement Systems of Alabama now owns 264,294 shares of the industrial products company’s stock worth $39,105,000 after purchasing an additional 17,525 shares during the period. 74.71% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have commented on the stock. Argus reaffirmed a “buy” rating and issued a $180.00 price objective (up previously from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. BidaskClub downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Credit Suisse Group decreased their price objective on shares of Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, October 24th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $155.00 price objective (up previously from $143.00) on shares of Illinois Tool Works in a report on Friday, October 20th. They noted that the move was a valuation call. Finally, BMO Capital Markets lifted their price objective on shares of Illinois Tool Works from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $157.27.

Shares of Illinois Tool Works Inc. (NYSE ITW) opened at $159.62 on Thursday. Illinois Tool Works Inc. has a one year low of $120.06 and a one year high of $159.96. The company has a current ratio of 2.41, a quick ratio of 1.98 and a debt-to-equity ratio of 1.48. The firm has a market cap of $54,630.84, a PE ratio of 25.31, a P/E/G ratio of 2.38 and a beta of 1.16.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.20. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the business earned $1.50 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. research analysts predict that Illinois Tool Works Inc. will post 6.7 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio is currently 47.78%.

In related news, VP Norman D. Jr. Finch acquired 4,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The shares were acquired at an average cost of $156.34 per share, for a total transaction of $779,511.24. Following the completion of the purchase, the vice president now directly owns 4,371 shares in the company, valued at $683,362.14. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Steven L. Martindale sold 64,818 shares of Illinois Tool Works stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the sale, the insider now owns 95,328 shares in the company, valued at $14,984,608.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 126,506 shares of company stock worth $19,801,832. Company insiders own 0.90% of the company’s stock.

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Illinois Tool Works Company Profile

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

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

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