Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Garrison Asset Management LLC

Garrison Asset Management LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.4% during the second quarter, HoldingsChannel.com reports. The fund owned 1,218 shares of the industrial products company’s stock after selling 70 shares during the period. Garrison Asset Management LLC’s holdings in Illinois Tool Works were worth $289,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Frazier Financial Advisors LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $26,000. Security National Bank acquired a new position in Illinois Tool Works during the fourth quarter worth $28,000. Financial Connections Group Inc. purchased a new stake in Illinois Tool Works in the 2nd quarter valued at $30,000. Christopher J. Hasenberg Inc acquired a new stake in shares of Illinois Tool Works in the 1st quarter worth $32,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works in the 1st quarter worth $34,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ITW shares. Jefferies Financial Group dropped their price objective 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. Evercore ISI dropped their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Stifel Nicolaus decreased their price objective on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their price target on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $250.22.

Illinois Tool Works Trading Up 1.4 %

Shares of NYSE ITW opened at $251.75 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. The stock has a market capitalization of $74.74 billion, a PE ratio of 24.83, a PEG ratio of 3.93 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The stock has a fifty day simple moving average of $244.54 and a 200-day simple moving average of $248.41.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.41 earnings per share. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.38%. Illinois Tool Works’s dividend payout ratio is 55.23%.

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.