Eads & Heald Investment Counsel reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,767 shares of the industrial products company’s stock after selling 344 shares during the quarter. Illinois Tool Works accounts for 1.4% of Eads & Heald Investment Counsel’s portfolio, making the stock its 9th biggest holding. Eads & Heald Investment Counsel’s holdings in Illinois Tool Works were worth $2,333,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. increased its position in Illinois Tool Works by 1,661.3% during the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock valued at $2,559,083,000 after acquiring an additional 18,221,359 shares during the last quarter. Janus Henderson Group PLC increased its position in Illinois Tool Works by 2,939.8% during the second quarter. Janus Henderson Group PLC now owns 3,752,155 shares of the industrial products company’s stock valued at $537,498,000 after acquiring an additional 3,628,722 shares during the last quarter. Koch Industries Inc. increased its position in Illinois Tool Works by 31,484.3% during the second quarter. Koch Industries Inc. now owns 768,131 shares of the industrial products company’s stock valued at $763,000 after acquiring an additional 765,699 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Illinois Tool Works by 100.8% during the second quarter. Parametric Portfolio Associates LLC now owns 1,409,208 shares of the industrial products company’s stock valued at $201,869,000 after acquiring an additional 707,287 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its position in Illinois Tool Works by 116.7% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,032,408 shares of the industrial products company’s stock valued at $147,892,000 after acquiring an additional 555,923 shares during the last quarter. 75.03% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently commented on ITW. Zacks Investment Research cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Royal Bank Of Canada upped their price target on Illinois Tool Works from $143.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 24th. Stifel Nicolaus reduced their price target on Illinois Tool Works from $162.00 to $158.00 and set a “hold” rating for the company in a research report on Tuesday, October 24th. Argus restated a “buy” rating and issued a $180.00 price target (up previously from $160.00) on shares of Illinois Tool Works in a research report on Tuesday, October 24th. Finally, Credit Suisse Group reduced their price target on Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. Illinois Tool Works currently has an average rating of “Hold” and an average price target of $157.27.

Shares of Illinois Tool Works Inc. (ITW) opened at $157.14 on Monday. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 1.48. Illinois Tool Works Inc. has a fifty-two week low of $120.06 and a fifty-two week high of $159.36. The firm has a market capitalization of $53,836.01, a P/E ratio of 24.94, a PEG ratio of 2.35 and a beta of 1.16.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be issued a $0.78 dividend. The ex-dividend date is Thursday, December 28th. This represents a $3.12 annualized dividend and a dividend yield of 1.99%. Illinois Tool Works’s payout ratio is 47.78%.

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In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $155.00, for a total transaction of $1,012,615.00. Following the transaction, the insider now directly owns 18,622 shares in the company, valued at approximately $2,886,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Norman D. Jr. Finch acquired 4,986 shares of Illinois Tool Works stock in a transaction on Wednesday, October 25th. The shares were purchased at an average price of $156.34 per share, for a total transaction of $779,511.24. Following the completion of the acquisition, the vice president now directly owns 4,371 shares in the company, valued at $683,362.14. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 126,506 shares of company stock worth $19,801,832. Company insiders own 0.90% of the company’s stock.

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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