Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Trinity Legacy Partners LLC

Trinity Legacy Partners LLC reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 10.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 846 shares of the industrial products company’s stock after selling 95 shares during the quarter. Trinity Legacy Partners LLC’s holdings in Illinois Tool Works were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norden Group LLC lifted its stake in shares of Illinois Tool Works by 30.6% in the 1st quarter. Norden Group LLC now owns 1,738 shares of the industrial products company’s stock worth $466,000 after acquiring an additional 407 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Illinois Tool Works by 78.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock valued at $9,907,000 after purchasing an additional 16,216 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Illinois Tool Works by 181.1% during the 1st quarter. Quantbot Technologies LP now owns 9,190 shares of the industrial products company’s stock worth $2,466,000 after buying an additional 5,921 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Illinois Tool Works by 212.9% in the first quarter. Empowered Funds LLC now owns 13,314 shares of the industrial products company’s stock valued at $3,573,000 after purchasing an additional 9,059 shares in the last quarter. Finally, PFG Advisors increased its position in Illinois Tool Works by 1.1% during the first quarter. PFG Advisors now owns 6,725 shares of the industrial products company’s stock worth $1,804,000 after buying an additional 70 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $272.87 on Friday. The stock’s fifty day simple moving average is $256.78 and its 200 day simple moving average is $247.80. Illinois Tool Works Inc. has a one year low of $227.66 and a one year high of $277.58. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The firm has a market cap of $80.58 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 3.85 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the firm posted $2.55 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts expect that Illinois Tool Works Inc. will post 10.75 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.90%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ITW. Jefferies Financial Group reduced their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised 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. Barclays boosted their price objective on shares of Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $256.40.

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.