Annex Advisory Services LLC Sells 56 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Annex Advisory Services LLC lessened its position in Illinois Tool Works Inc. (NYSE:ITWFree Report) by 5.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,062 shares of the industrial products company’s stock after selling 56 shares during the period. Annex Advisory Services LLC’s holdings in Illinois Tool Works were worth $245,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas lifted its position in shares of Illinois Tool Works by 5.8% in the third quarter. Teacher Retirement System of Texas now owns 145,177 shares of the industrial products company’s stock valued at $33,436,000 after buying an additional 7,939 shares during the last quarter. Optas LLC acquired a new stake in Illinois Tool Works during the 3rd quarter valued at $283,000. Leeward Financial Partners LLC boosted its position in Illinois Tool Works by 23.5% during the third quarter. Leeward Financial Partners LLC now owns 7,190 shares of the industrial products company’s stock worth $1,656,000 after purchasing an additional 1,366 shares during the period. Community Bank & Trust Waco Texas acquired a new position in shares of Illinois Tool Works in the third quarter valued at $268,000. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of Illinois Tool Works by 7.6% in the third quarter. Kornitzer Capital Management Inc. KS now owns 2,112 shares of the industrial products company’s stock valued at $486,000 after purchasing an additional 150 shares during the period. 79.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ITW has been the topic of a number of research reports. StockNews.com began coverage on shares of Illinois Tool Works in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Citigroup increased their target price on Illinois Tool Works from $244.00 to $256.00 and gave the stock a “neutral” rating in a research note on Monday, December 11th. Wells Fargo & Company boosted their price target on Illinois Tool Works from $220.00 to $277.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 19th. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $242.18.

Read Our Latest Stock Analysis on Illinois Tool Works

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $250.22 on Thursday. The company’s 50 day moving average price is $250.20 and its two-hundred day moving average price is $243.36. The firm has a market capitalization of $75.29 billion, a P/E ratio of 24.27, a P/E/G ratio of 4.83 and a beta of 1.15. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.58 and a quick ratio of 1.13. Illinois Tool Works Inc. has a fifty-two week low of $217.06 and a fifty-two week high of $265.00.

Illinois Tool Works (NYSE:ITWGet Free Report) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.09. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.10 billion. Illinois Tool Works had a net margin of 19.55% and a return on equity of 95.68%. Illinois Tool Works’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.35 earnings per share. On average, equities analysts forecast that Illinois Tool Works Inc. will post 9.69 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 11th. Stockholders of record on Friday, December 29th were given a dividend of $1.40 per share. The ex-dividend date was Thursday, December 28th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.24%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 54.32%.

About Illinois Tool Works

(Free Report)

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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