Montag A & Associates Inc. Purchases 695 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Montag A & Associates Inc. boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,861 shares of the industrial products company’s stock after acquiring an additional 695 shares during the quarter. Montag A & Associates Inc.’s holdings in Illinois Tool Works were worth $1,543,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Private Advisor Group LLC raised its position in shares of Illinois Tool Works by 76.0% in 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 purchasing an additional 15,824 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Illinois Tool Works by 2.8% in 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 purchasing an additional 65,298 shares during the period. First Personal Financial Services raised its position in shares of Illinois Tool Works by 26.4% in the second quarter. First Personal Financial Services now owns 460 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 96 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Illinois Tool Works by 10.4% in 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 purchasing an additional 8,288 shares during the period. Finally, Signaturefd LLC raised its position in shares of Illinois Tool Works by 3.4% in the second quarter. Signaturefd LLC now owns 3,020 shares of the industrial products company’s stock valued at $455,000 after purchasing an additional 100 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

ITW has been the topic of several research analyst reports. Seaport Global Securities reissued a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, October 28th. Argus set a $180.00 price objective on shares of Illinois Tool Works and gave the company a “buy” rating in a research report on Friday, October 25th. Zacks Investment Research lowered shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $180.00 price objective on the stock. in a research report on Monday, October 28th. Credit Suisse Group increased their price objective on shares of Illinois Tool Works from $144.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Finally, Citigroup dropped their price objective on shares of Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $150.57.

Shares of ITW stock traded down $0.10 on Friday, hitting $176.41. The company’s stock had a trading volume of 995,797 shares, compared to its average volume of 1,318,047. The company has a debt-to-equity ratio of 2.57, a quick ratio of 2.27 and a current ratio of 2.81. The stock’s 50 day moving average is $160.07 and its 200-day moving average is $153.13. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $179.29. The company has a market capitalization of $56.63 billion, a PE ratio of 23.21, a PEG ratio of 2.99 and a beta of 1.22.

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Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, October 25th. The industrial products company reported $2.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.10. Illinois Tool Works had a net margin of 17.49% and a return on equity of 80.38%. The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the prior year, the company posted $1.76 earnings per share. Illinois Tool Works’s revenue was down 5.4% compared to the same quarter last year. On average, research analysts forecast that Illinois Tool Works Inc. will post 7.7 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $1.07 dividend. The ex-dividend date is Monday, December 30th. This represents a $4.28 annualized dividend and a dividend yield of 2.43%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 56.32%.

In other Illinois Tool Works news, CFO Michael M. Larsen sold 35,617 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 38,726 shares in the company, valued at $6,181,056.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Christopher A. O’herlihy sold 37,301 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.69, for a total transaction of $6,404,208.69. Following the sale, the insider now owns 65,674 shares in the company, valued at $11,275,569.06. The disclosure for this sale can be found here. Insiders sold 346,180 shares of company stock worth $57,725,646 over the last 90 days. 0.87% of the stock is currently owned by corporate insiders.

Illinois Tool Works Company 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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