Annex Advisory Services LLC Sells 60 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Annex Advisory Services LLC cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,635 shares of the industrial products company’s stock after selling 60 shares during the quarter. Annex Advisory Services LLC’s holdings in Illinois Tool Works were worth $415,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nikulski Financial Inc. increased its position in Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after acquiring an additional 39 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its position in Illinois Tool Works by 2.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after acquiring an additional 40 shares during the period. Sigma Planning Corp increased its position in Illinois Tool Works by 0.9% during the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after acquiring an additional 41 shares during the period. Harbour Investments Inc. increased its position in Illinois Tool Works by 1.1% during the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after acquiring an additional 41 shares during the period. Finally, Procyon Advisors LLC increased its position in Illinois Tool Works by 2.7% during the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock worth $422,000 after acquiring an additional 43 shares during the period. 79.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ITW shares. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Barclays reduced their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird increased their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Finally, StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $270.11.

Illinois Tool Works Trading Up 0.2 %

ITW opened at $256.50 on Tuesday. The company’s 50 day moving average is $264.26 and its 200-day moving average is $255.73. The company has a market cap of $75.74 billion, a P/E ratio of 22.19, a PEG ratio of 3.55 and a beta of 1.11. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business earned $2.55 EPS. Equities research analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were issued a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Illinois Tool Works Profile

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.