Gladius Capital Management LP Reduces Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Gladius Capital Management LP cut its stake in Illinois Tool Works Inc. (NYSE:ITWFree Report) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,678 shares of the industrial products company’s stock after selling 104 shares during the quarter. Illinois Tool Works comprises about 0.1% of Gladius Capital Management LP’s holdings, making the stock its 24th largest position. Gladius Capital Management LP’s holdings in Illinois Tool Works were worth $440,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairscale Capital LLC bought a new stake in shares of Illinois Tool Works during the second quarter valued at about $30,000. Catalyst Capital Advisors LLC purchased a new position in Illinois Tool Works during the third quarter valued at approximately $32,000. Financial Connections Group Inc. bought a new stake in Illinois Tool Works during the 2nd quarter worth approximately $30,000. Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. boosted its holdings in Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 115 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $270.62 on Friday. The stock has a market capitalization of $79.91 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 4.19 and a beta of 1.10. The company has a fifty day moving average of $260.09 and a 200-day moving average of $248.94. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $277.58. 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 (NYSE:ITWGet Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. During the same period in the prior year, the business posted $2.55 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. Equities research analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.22%. Illinois Tool Works’s payout ratio is currently 51.90%.

Wall Street Analyst Weigh In

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

View Our Latest Stock Report on ITW

Illinois Tool Works Company Profile

(Free Report)

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.

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

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