Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 117,897 shares of the industrial products company’s stock after selling 1,774 shares during the period. Nisa Investment Advisors LLC’s holdings in Illinois Tool Works were worth $28,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new position in shares of Illinois Tool Works during the fourth quarter worth about $29,000. Daiwa Securities Group Inc. increased its position in Illinois Tool Works by 5.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 26,510 shares of the industrial products company’s stock worth $6,944,000 after purchasing an additional 1,441 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Illinois Tool Works by 90.8% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 599 shares of the industrial products company’s stock worth $158,000 after buying an additional 285 shares in the last quarter. AIA Group Ltd acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $522,000. Finally, Fidelis Capital Partners LLC boosted its stake in shares of Illinois Tool Works by 47.3% in the fourth quarter. Fidelis Capital Partners LLC now owns 2,663 shares of the industrial products company’s stock valued at $698,000 after buying an additional 855 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 0.2 %

Shares of ITW stock traded up $0.44 during mid-day trading on Monday, hitting $242.38. 334,013 shares of the company’s stock were exchanged, compared to its average volume of 1,151,215. The stock has a 50-day simple moving average of $240.80 and a two-hundred day simple moving average of $249.56. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. Illinois Tool Works Inc. has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The stock has a market cap of $72.33 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 3.80 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.41 earnings per share. Equities analysts expect that Illinois Tool Works Inc. will post 10.25 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.48%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, September 30th. Illinois Tool Works’s payout ratio is 59.17%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 775 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were acquired at an average price of $238.82 per share, with a total value of $185,085.50. Following the purchase, the director now owns 121,506 shares in the company, valued at approximately $29,018,062.92. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.88% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ITW has been the subject of a number of recent analyst reports. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group dropped their target price on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Argus raised Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $250.22.

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.