Donaldson Capital Management LLC Sells 218 Shares of Illinois Tool Works Inc. (NYSE:ITW)

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Donaldson Capital Management LLC lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,265 shares of the industrial products company’s stock after selling 218 shares during the period. Donaldson Capital Management LLC’s holdings in Illinois Tool Works were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Kanawha Capital Management LLC grew its position in shares of Illinois Tool Works by 0.5% in the second quarter. Kanawha Capital Management LLC now owns 88,540 shares of the industrial products company’s stock valued at $13,353,000 after purchasing an additional 442 shares in the last quarter. Arjuna Capital grew its position in shares of Illinois Tool Works by 1.0% in the second quarter. Arjuna Capital now owns 13,709 shares of the industrial products company’s stock valued at $2,067,000 after purchasing an additional 134 shares in the last quarter. Profund Advisors LLC grew its position in shares of Illinois Tool Works by 2.8% in the second quarter. Profund Advisors LLC now owns 5,765 shares of the industrial products company’s stock valued at $869,000 after purchasing an additional 156 shares in the last quarter. Pinebridge Investments L.P. grew its position in shares of Illinois Tool Works by 818.3% in the second quarter. Pinebridge Investments L.P. now owns 3,205 shares of the industrial products company’s stock valued at $484,000 after purchasing an additional 2,856 shares in the last quarter. Finally, National Pension Service grew its position in shares of Illinois Tool Works by 5.2% in the second quarter. National Pension Service now owns 348,980 shares of the industrial products company’s stock valued at $52,630,000 after purchasing an additional 17,307 shares in the last quarter. 77.83% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works stock opened at $178.64 on Wednesday. Illinois Tool Works Inc. has a 52 week low of $129.01 and a 52 week high of $182.34. The business has a 50-day simple moving average of $177.65 and a 200 day simple moving average of $161.91. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 2.57. The stock has a market cap of $57.29 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 2.95 and a beta of 1.21.

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

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Monday, December 30th. Illinois Tool Works’s payout ratio is 56.32%.

In other Illinois Tool Works news, EVP Michael R. Zimmerman sold 6,600 shares of Illinois Tool Works stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $172.43, for a total transaction of $1,138,038.00. Following the completion of the sale, the executive vice president now owns 13,590 shares of the company’s stock, valued at $2,343,323.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrew Mines sold 12,995 shares of Illinois Tool Works stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $167.71, for a total value of $2,179,391.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 245,669 shares of company stock valued at $41,624,681. Corporate insiders own 0.87% of the company’s stock.

Several equities analysts have recently weighed in on ITW shares. Seaport Global Securities reiterated a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, October 28th. Citigroup reduced their target price on Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Credit Suisse Group boosted their target price on Illinois Tool Works from $144.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Zacks Investment Research cut Illinois Tool Works from a “hold” rating to a “sell” rating and set a $180.00 target price for the company. in a research report on Monday, October 28th. Finally, Wells Fargo & Co boosted their target price on Illinois Tool Works from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Illinois Tool Works presently has an average rating of “Hold” and an average price target of $152.64.

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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