Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Reduced by Eliot Finkel Investment Counsel LLC

Eliot Finkel Investment Counsel LLC trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,730 shares of the industrial products company’s stock after selling 370 shares during the period. Illinois Tool Works accounts for approximately 4.5% of Eliot Finkel Investment Counsel LLC’s portfolio, making the stock its 9th largest holding. Eliot Finkel Investment Counsel LLC’s holdings in Illinois Tool Works were worth $7,267,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Financial Connections Group Inc. purchased a new position in shares of Illinois Tool Works in the second quarter worth about $30,000. Fairscale Capital LLC bought a new position in Illinois Tool Works in the 2nd quarter worth approximately $30,000. Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works in the 1st quarter valued at approximately $34,000. 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. Finally, Valued Wealth Advisors LLC lifted its position in shares of Illinois Tool Works by 2,162.5% during the second quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 173 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on ITW shares. Evercore ISI decreased their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday. Finally, StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $255.44.

Illinois Tool Works Stock Up 0.1 %

ITW opened at $261.03 on Friday. The business’s fifty day simple moving average is $252.37 and its 200 day simple moving average is $247.56. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The stock has a market cap of $77.89 billion, a PE ratio of 25.74, a P/E/G ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.45 by $0.09. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.41 EPS. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.30%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, September 30th. Illinois Tool Works’s payout ratio is presently 59.17%.

About Illinois Tool Works

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.