Illinois Tool Works Inc. (NYSE:ITW) Stake Decreased by M. Kraus & Co

M. Kraus & Co lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,618 shares of the industrial products company’s stock after selling 347 shares during the quarter. Illinois Tool Works comprises about 3.7% of M. Kraus & Co’s investment portfolio, making the stock its 11th biggest holding. M. Kraus & Co’s holdings in Illinois Tool Works were worth $6,826,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Advisor Group LLC increased its stake in shares of Illinois Tool Works by 76.0% during the second quarter. Private Advisor Group LLC now owns 36,641 shares of the industrial products company’s stock valued at $5,526,000 after acquiring an additional 15,824 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Illinois Tool Works by 2.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,401,495 shares of the industrial products company’s stock valued at $362,170,000 after acquiring an additional 65,298 shares during the period. First Personal Financial Services increased its stake in shares of Illinois Tool Works by 26.4% during the second quarter. First Personal Financial Services now owns 460 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 96 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Illinois Tool Works by 10.4% during the second quarter. Janney Montgomery Scott LLC now owns 88,353 shares of the industrial products company’s stock valued at $13,325,000 after acquiring an additional 8,288 shares during the period. Finally, Belpointe Asset Management LLC acquired a new position in shares of Illinois Tool Works during the first quarter valued at approximately $481,000. Institutional investors and hedge funds own 77.46% of the company’s stock.

In other Illinois Tool Works news, CFO Michael M. Larsen sold 35,617 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $159.61, for a total transaction of $5,684,829.37. Following the transaction, the chief financial officer now directly owns 38,726 shares in the company, valued at approximately $6,181,056.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael R. Zimmerman sold 9,325 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $160.00, for a total transaction of $1,492,000.00. Following the transaction, the insider now owns 16,315 shares in the company, valued at $2,610,400. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 158,458 shares of company stock worth $25,172,163. Corporate insiders own 0.87% of the company’s stock.

NYSE ITW traded up $1.69 on Thursday, hitting $149.88. 56,215 shares of the stock were exchanged, compared to its average volume of 1,129,219. Illinois Tool Works Inc. has a 52-week low of $117.75 and a 52-week high of $161.71. The company has a debt-to-equity ratio of 2.52, a current ratio of 2.87 and a quick ratio of 2.30. The company has a market capitalization of $47.94 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 2.66 and a beta of 1.22. The company’s 50-day moving average price is $152.20 and its two-hundred day moving average price is $150.93.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.03. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the previous year, the company posted $1.97 EPS. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. Equities analysts predict that Illinois Tool Works Inc. will post 7.68 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Monday, September 30th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.86%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, September 27th. Illinois Tool Works’s payout ratio is presently 56.32%.

ITW has been the topic of several recent research reports. Credit Suisse Group lifted their price target on shares of Illinois Tool Works from $124.00 to $152.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. UBS Group lifted their price target on shares of Illinois Tool Works from $150.00 to $154.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $143.00 to $154.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Goldman Sachs Group lowered shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 price target on the stock. in a research report on Monday, September 23rd. They noted that the move was a valuation call. Finally, Northcoast Research lowered shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price target on the stock. in a research report on Wednesday, June 26th. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $142.44.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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