Bailard Inc. Cuts Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Bailard Inc. trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,277 shares of the industrial products company’s stock after selling 1,308 shares during the quarter. Bailard Inc.’s holdings in Illinois Tool Works were worth $5,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of ITW. Invesco Ltd. boosted its holdings in Illinois Tool Works by 179.7% during the 2nd quarter. Invesco Ltd. now owns 2,139,052 shares of the industrial products company’s stock worth $322,590,000 after acquiring an additional 1,374,150 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Illinois Tool Works by 6,875.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,237,183 shares of the industrial products company’s stock worth $186,579,000 after acquiring an additional 1,219,446 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Illinois Tool Works by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 26,095,477 shares of the industrial products company’s stock worth $3,935,459,000 after acquiring an additional 659,248 shares during the last quarter. Thoroughbred Financial Services LLC boosted its holdings in Illinois Tool Works by 15,116.7% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 661,166 shares of the industrial products company’s stock worth $66,117,000 after acquiring an additional 656,821 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Illinois Tool Works by 3.0% during the 2nd quarter. BlackRock Inc. now owns 20,244,400 shares of the industrial products company’s stock worth $3,053,058,000 after acquiring an additional 581,489 shares during the last quarter. 77.57% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Illinois Tool Works from $150.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Northcoast Research downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price target on the stock. in a report on Wednesday, June 26th. Citigroup cut their price target on shares of Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Credit Suisse Group boosted their price target on shares of Illinois Tool Works from $124.00 to $152.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Goldman Sachs Group downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 price target on the stock. in a report on Monday, September 23rd. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $141.50.

In other Illinois Tool Works news, EVP Steven L. Martindale sold 48,622 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $155.88, for a total transaction of $7,579,197.36. Following the sale, the executive vice president now directly owns 84,546 shares of the company’s stock, valued at $13,179,030.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Juan Valls sold 64,894 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $160.51, for a total transaction of $10,416,135.94. Following the sale, the executive vice president now directly owns 67,047 shares in the company, valued at $10,761,713.97. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,458 shares of company stock worth $25,172,163. Insiders own 0.87% of the company’s stock.

Shares of NYSE:ITW opened at $158.31 on Friday. The company’s 50-day moving average is $153.47 and its 200 day moving average is $151.49. The company has a debt-to-equity ratio of 2.52, a quick ratio of 2.30 and a current ratio of 2.87. The company has a market capitalization of $50.77 billion, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 2.78 and a beta of 1.22. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $161.71.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.03. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.73 billion. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.97 earnings per share. As a group, research analysts predict that Illinois Tool Works Inc. will post 7.68 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Monday, September 30th were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Friday, September 27th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.00. This represents a $4.28 annualized dividend and a yield of 2.70%. Illinois Tool Works’s dividend payout ratio is 56.32%.

Illinois Tool Works Profile

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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