Ashmore Wealth Management LLC Has $43.30 Million Holdings in Illinois Tool Works Inc. (ITW)

Ashmore Wealth Management LLC boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 23.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 306,846 shares of the industrial products company’s stock after acquiring an additional 58,907 shares during the period. Illinois Tool Works comprises 2.2% of Ashmore Wealth Management LLC’s investment portfolio, making the stock its 16th biggest holding. Ashmore Wealth Management LLC owned about 0.09% of Illinois Tool Works worth $43,302,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. boosted its holdings in shares of Illinois Tool Works by 540.9% in the 3rd quarter. SRS Capital Advisors Inc. now owns 737 shares of the industrial products company’s stock valued at $104,000 after buying an additional 622 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Illinois Tool Works by 220.1% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 797 shares of the industrial products company’s stock valued at $112,000 after buying an additional 548 shares in the last quarter. Sun Life Financial INC boosted its holdings in shares of Illinois Tool Works by 277.2% in the 2nd quarter. Sun Life Financial INC now owns 826 shares of the industrial products company’s stock valued at $114,000 after buying an additional 607 shares in the last quarter. Fort L.P. acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at $117,000. Finally, Valley National Advisers Inc. boosted its holdings in shares of Illinois Tool Works by 180.4% in the 3rd quarter. Valley National Advisers Inc. now owns 875 shares of the industrial products company’s stock valued at $123,000 after buying an additional 563 shares in the last quarter. Institutional investors own 77.43% of the company’s stock.

Several analysts recently commented on ITW shares. Zacks Investment Research downgraded shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Morgan Stanley started coverage on shares of Illinois Tool Works in a research report on Monday, August 20th. They issued an “equal weight” rating and a $146.00 price target for the company. Wells Fargo & Co reiterated a “buy” rating and issued a $150.00 price target (down previously from $160.00) on shares of Illinois Tool Works in a research report on Wednesday, October 17th. Seaport Global Securities downgraded shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and reduced their price target for the company from $170.00 to $132.00 in a research report on Thursday, October 25th. Finally, Gordon Haskett started coverage on shares of Illinois Tool Works in a research report on Friday, October 12th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $147.69.

Shares of Illinois Tool Works stock opened at $139.05 on Monday. The firm has a market cap of $46.14 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 1.85 and a beta of 1.26. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 1.71. Illinois Tool Works Inc. has a one year low of $119.38 and a one year high of $179.07.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $1.90 EPS for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.02. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.72 billion. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. Illinois Tool Works’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.71 EPS. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 7.6 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Monday, December 31st will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $4.00 dividend on an annualized basis and a yield of 2.88%. Illinois Tool Works’s payout ratio is currently 60.70%.

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About Illinois Tool Works

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.

See Also: Cost of Equity For A Business, Investors

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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