Guardian Investment Management Sells 4,000 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Guardian Investment Management decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 31.7% in the 3rd quarter, Holdings Channel reports. The fund owned 8,600 shares of the industrial products company’s stock after selling 4,000 shares during the quarter. Illinois Tool Works accounts for approximately 1.8% of Guardian Investment Management’s holdings, making the stock its 15th largest position. Guardian Investment Management’s holdings in Illinois Tool Works were worth $2,254,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ITW. Steele Capital Management Inc. boosted its stake in Illinois Tool Works by 4.9% in the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 40 shares during the period. EP Wealth Advisors LLC boosted its stake in Illinois Tool Works by 1.0% in the 1st quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock worth $1,178,000 after purchasing an additional 42 shares during the period. Proficio Capital Partners LLC boosted its stake in Illinois Tool Works by 3.0% in the 1st quarter. Proficio Capital Partners LLC now owns 1,490 shares of the industrial products company’s stock worth $400,000 after purchasing an additional 44 shares during the period. Carson Advisory Inc. boosted its stake in Illinois Tool Works by 3.0% in the 1st quarter. Carson Advisory Inc. now owns 1,552 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 45 shares during the period. Finally, Trifecta Capital Advisors LLC raised its holdings in shares of Illinois Tool Works by 0.8% in the 1st quarter. Trifecta Capital Advisors LLC now owns 5,948 shares of the industrial products company’s stock valued at $1,596,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

NYSE:ITW traded up $3.76 during mid-day trading on Friday, reaching $260.59. The stock had a trading volume of 664,248 shares, compared to its average volume of 1,080,925. The firm has a 50 day moving average price of $250.13 and a two-hundred day moving average price of $247.65. The stock has a market capitalization of $77.37 billion, a P/E ratio of 25.55, a P/E/G ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the company posted $2.41 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. As a group, analysts expect that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $1.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.00 annualized dividend and a yield of 2.30%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s payout ratio is presently 58.82%.

Analyst Ratings Changes

A number of analysts have recently issued reports on ITW shares. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Evercore ISI dropped their price target on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Stifel Nicolaus dropped their price target on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $255.22.

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.