Jefferies Group LLC Cuts Stake in Illinois Tool Works Inc. (ITW)

Jefferies Group LLC trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 45.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,198 shares of the industrial products company’s stock after selling 23,397 shares during the period. Jefferies Group LLC’s holdings in Illinois Tool Works were worth $3,979,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Signaturefd LLC increased its position in shares of Illinois Tool Works by 17.0% in the second quarter. Signaturefd LLC now owns 2,564 shares of the industrial products company’s stock valued at $355,000 after acquiring an additional 372 shares during the last quarter. Sky Investment Group LLC increased its position in shares of Illinois Tool Works by 0.9% in the second quarter. Sky Investment Group LLC now owns 45,259 shares of the industrial products company’s stock valued at $6,270,000 after acquiring an additional 385 shares during the last quarter. First National Bank of Omaha increased its position in shares of Illinois Tool Works by 20.9% in the third quarter. First National Bank of Omaha now owns 2,280 shares of the industrial products company’s stock valued at $321,000 after acquiring an additional 394 shares during the last quarter. Rockland Trust Co. increased its position in shares of Illinois Tool Works by 12.5% in the third quarter. Rockland Trust Co. now owns 3,796 shares of the industrial products company’s stock valued at $536,000 after acquiring an additional 422 shares during the last quarter. Finally, Eads & Heald Wealth Management increased its position in shares of Illinois Tool Works by 2.9% in the third quarter. Eads & Heald Wealth Management now owns 15,437 shares of the industrial products company’s stock valued at $2,178,000 after acquiring an additional 429 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

A number of analysts recently issued reports on the company. Zacks Investment Research raised Illinois Tool Works from a “sell” rating to a “hold” rating in a research report on Monday, September 17th. Deutsche Bank reaffirmed a “hold” rating on shares of Illinois Tool Works in a research report on Monday, December 3rd. ValuEngine raised Illinois Tool Works from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. Morgan Stanley assumed coverage on Illinois Tool Works in a research report on Monday, August 20th. They issued an “equal weight” rating and a $146.00 target price on the stock. Finally, Wells Fargo & Co reaffirmed a “buy” rating and issued a $150.00 target price (down previously from $160.00) on shares of Illinois Tool Works in a research report on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $147.69.

Shares of NYSE ITW opened at $129.47 on Friday. The company has a market cap of $44.22 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.28. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.26 and a current ratio of 1.62. Illinois Tool Works Inc. has a twelve month low of $119.38 and a twelve month high of $179.07.

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

The firm also recently declared 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. This represents a $4.00 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Friday, December 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 60.70%.

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Illinois Tool Works Profile

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.

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

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