Klingenstein Fields & Co. LP Lowers Position in Illinois Tool Works Inc. (NYSE:ITW)

Klingenstein Fields & Co. LP decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,518 shares of the industrial products company’s stock after selling 552 shares during the period. Klingenstein Fields & Co. LP’s holdings in Illinois Tool Works were worth $12,715,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Capital Research Global Investors raised its position in shares of Illinois Tool Works by 1.2% in the 1st quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock worth $1,171,006,000 after buying an additional 51,654 shares during the period. Legal & General Group Plc raised its holdings in shares of Illinois Tool Works by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock worth $640,425,000 after purchasing an additional 62,645 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Illinois Tool Works by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock valued at $361,998,000 after purchasing an additional 133,853 shares in the last quarter. Guinness Asset Management LTD grew its holdings in shares of Illinois Tool Works by 4.6% during the 3rd quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock worth $210,447,000 after purchasing an additional 35,145 shares during the period. Finally, ProShare Advisors LLC increased its position in Illinois Tool Works by 7.3% during the 2nd quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock worth $176,047,000 after purchasing an additional 50,753 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.7 %

Shares of ITW opened at $263.08 on Monday. Illinois Tool Works Inc. has a one year low of $225.88 and a one year high of $271.15. The stock has a 50-day moving average price of $255.59 and a 200 day moving average price of $247.39. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.92 and a current ratio of 1.36. The company has a market capitalization of $77.69 billion, a P/E ratio of 22.76, a P/E/G ratio of 3.97 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.55 EPS. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.63 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.28%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ITW shares. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Barclays upped their target price on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday. Finally, Jefferies Financial Group dropped their target price on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $256.40.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.