Great Valley Advisor Group Inc. Sells 436 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Great Valley Advisor Group Inc. cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,871 shares of the industrial products company’s stock after selling 436 shares during the period. Great Valley Advisor Group Inc.’s holdings in Illinois Tool Works were worth $1,539,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Legal & General Group Plc raised its position in Illinois Tool Works by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock worth $640,425,000 after purchasing an additional 62,645 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of 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 buying an additional 133,853 shares during the period. PNC Financial Services Group Inc. increased its position in Illinois Tool Works by 0.8% in the third quarter. PNC Financial Services Group Inc. now owns 1,247,066 shares of the industrial products company’s stock worth $326,819,000 after purchasing an additional 9,563 shares during the period. Guinness Asset Management LTD lifted its position in Illinois Tool Works by 4.6% during the 3rd quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock valued at $210,447,000 after purchasing an additional 35,145 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of Illinois Tool Works by 7.3% in the 2nd quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock valued at $176,047,000 after purchasing an additional 50,753 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

Shares of ITW opened at $276.37 on Tuesday. The firm’s 50 day moving average price is $262.63 and its two-hundred day moving average price is $250.02. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $277.94. The firm has a market cap of $81.61 billion, a P/E ratio of 23.91, a PEG ratio of 4.25 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the business earned $2.55 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s payout ratio is 51.90%.

Wall Street Analysts Forecast Growth

ITW has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Robert W. Baird lifted their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their target price for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Barclays upped their price target on Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $257.30.

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.