BNP PARIBAS ASSET MANAGEMENT Holding S.A. Decreases Position in Illinois Tool Works Inc. (NYSE:ITW)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 219,264 shares of the industrial products company’s stock after selling 21,005 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Illinois Tool Works were worth $57,463,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. EP Wealth Advisors LLC increased its stake in Illinois Tool Works by 1.0% in the 1st quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock worth $1,178,000 after purchasing an additional 42 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Illinois Tool Works by 814,660.0% in the first quarter. Canada Pension Plan Investment Board now owns 81,476 shares of the industrial products company’s stock worth $21,862,000 after buying an additional 81,466 shares during the period. LRI Investments LLC bought a new stake in Illinois Tool Works during the 1st quarter valued at $184,000. PEAK6 Investments LLC boosted its position in Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after buying an additional 140 shares during the period. Finally, Alpine Global Management LLC bought a new stake in Illinois Tool Works in the 1st quarter worth $2,201,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Price Performance

ITW opened at $269.90 on Friday. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $277.58. The company has a market cap of $79.70 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 4.13 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 stock has a fifty day simple moving average of $261.76 and a two-hundred day simple moving average of $249.60.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. Illinois Tool Works’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company posted $2.55 EPS. Research analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

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

Analyst Upgrades and Downgrades

ITW has been the subject of a number of analyst reports. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their target price for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted their target price on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price target on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Robert W. Baird lifted their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Four 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $257.30.

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.