Prime Capital Investment Advisors LLC Sells 875 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Prime Capital Investment Advisors LLC lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 6.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,372 shares of the industrial products company’s stock after selling 875 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Illinois Tool Works were worth $3,242,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Nikulski Financial Inc. increased its holdings in Illinois Tool Works by 3.6% during the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after purchasing an additional 39 shares in the last quarter. Steele Capital Management Inc. grew its holdings in shares of Illinois Tool Works by 4.9% during the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after buying an additional 40 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in Illinois Tool Works by 2.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after buying an additional 40 shares during the last quarter. Sigma Planning Corp boosted its position in Illinois Tool Works by 0.9% during the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after acquiring an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. grew its stake in shares of Illinois Tool Works by 1.1% during the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after acquiring an additional 41 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on ITW. JPMorgan Chase & Co. increased their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Barclays raised their price target on Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus upped their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $257.30.

Illinois Tool Works Trading Up 0.6 %

Shares of Illinois Tool Works stock opened at $272.96 on Thursday. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $277.58. The company has a market capitalization of $80.61 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 4.21 and a beta of 1.10. The business has a fifty day simple moving average of $258.46 and a two-hundred day simple moving average of $248.44. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the firm posted $2.55 EPS. Illinois Tool Works’s revenue was down 1.6% compared to the same quarter last year. Research analysts forecast that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Dividend Announcement

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

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.