Trinity Legacy Partners LLC Has $221,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Trinity Legacy Partners LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 846 shares of the industrial products company’s stock after selling 95 shares during the period. Trinity Legacy Partners LLC’s holdings in Illinois Tool Works were worth $221,000 at the end of the most recent quarter.

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

Illinois Tool Works Trading Down 0.9 %

Shares of NYSE:ITW opened at $272.87 on Friday. The company has a market capitalization of $80.58 billion, a PE ratio of 23.60, a PEG ratio of 3.85 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The business has a 50 day moving average of $256.78 and a two-hundred day moving average of $247.80. Illinois Tool Works Inc. has a 12-month low of $227.66 and a 12-month high of $277.58.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the business posted $2.55 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.75 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ITW. Evercore ISI dropped their price target on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Robert W. Baird raised their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays lifted their target price on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $256.40.

Illinois Tool Works Profile

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.