BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 21,005 Shares of Illinois Tool Works Inc. (NYSE:ITW)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 8.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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. owned approximately 0.07% of Illinois Tool Works worth $57,463,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ITW. Nikulski Financial Inc. raised its position in shares of Illinois Tool Works by 3.6% during the third 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 during the period. Steele Capital Management Inc. raised its holdings in 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 during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in shares of Illinois Tool Works by 2.5% in the third 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 in the last quarter. Sigma Planning Corp grew its holdings in shares of Illinois Tool Works by 0.9% during the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after buying an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Illinois Tool Works by 1.1% during the third 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.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $269.90 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The firm has a market cap of $79.70 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 4.13 and a beta of 1.10. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $277.58. The firm’s 50-day simple moving average is $261.76 and its two-hundred day simple moving average is $249.60.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed 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. This represents a $6.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ITW. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Barclays lifted their target price on Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price target for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Truist Financial lifted their price objective on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.