Dumont & Blake Investment Advisors LLC Decreases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Dumont & Blake Investment Advisors LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 50.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,797 shares of the industrial products company’s stock after selling 3,833 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Illinois Tool Works were worth $995,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC grew its position in Illinois Tool Works by 26,088.4% in the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after buying an additional 322,192 shares during the last quarter. AXA S.A. increased its stake in shares of Illinois Tool Works by 242.3% during the second quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock worth $80,888,000 after acquiring an additional 241,618 shares during the period. Guinness Asset Management LTD raised its holdings in Illinois Tool Works by 30.7% during the second quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company’s stock worth $181,926,000 after purchasing an additional 180,458 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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. Finally, SG Americas Securities LLC increased its position in Illinois Tool Works by 2,334.0% during the 1st quarter. SG Americas Securities LLC now owns 127,152 shares of the industrial products company’s stock worth $34,119,000 after purchasing an additional 121,928 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded up $1.59 during mid-day trading on Friday, reaching $257.12. 15,651 shares of the company traded hands, compared to its average volume of 1,058,939. Illinois Tool Works Inc. has a fifty-two week low of $221.82 and a fifty-two week high of $271.15. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. The stock has a fifty day simple moving average of $253.53 and a 200-day simple moving average of $247.33. The firm has a market cap of $76.72 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10.

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

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is currently 59.17%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Evercore ISI reduced their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Stifel Nicolaus boosted their price target on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. 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 report on Monday, October 7th. JPMorgan Chase & Co. lifted their target price on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Argus raised Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $255.44.

Illinois Tool Works Company 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.