GW Henssler & Associates Ltd. Reduces Holdings in Illinois Tool Works Inc. (NYSE:ITW)


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GW Henssler & Associates Ltd. lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,296 shares of the industrial products company’s stock after selling 217 shares during the quarter. GW Henssler & Associates Ltd.’s holdings in Illinois Tool Works were worth $4,717,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its position in shares of Illinois Tool Works by 16.3% during the 1st quarter. Meeder Asset Management Inc. now owns 3,298 shares of the industrial products company’s stock valued at $731,000 after buying an additional 462 shares during the period. Regent Peak Wealth Advisors LLC boosted its position in shares of Illinois Tool Works by 3.2% during the 1st quarter. Regent Peak Wealth Advisors LLC now owns 7,477 shares of the industrial products company’s stock worth $1,656,000 after purchasing an additional 229 shares during the period. JustInvest LLC boosted its position in shares of Illinois Tool Works by 30.8% during the 1st quarter. JustInvest LLC now owns 5,194 shares of the industrial products company’s stock worth $1,151,000 after purchasing an additional 1,222 shares during the period. Park Avenue Securities LLC purchased a new position in shares of Illinois Tool Works during the 1st quarter worth approximately $1,254,000. Finally, James Hambro & Partners purchased a new position in shares of Illinois Tool Works during the 1st quarter worth approximately $362,000. 77.44% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on ITW shares. UBS Group raised shares of Illinois Tool Works from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $211.00 to $232.00 in a research report on Monday, January 4th. Barclays raised their price target on shares of Illinois Tool Works from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Monday. BMO Capital Markets raised their price target on shares of Illinois Tool Works from $225.00 to $235.00 and gave the company a “market perform” rating in a research report on Monday. JPMorgan Chase & Co. raised their price target on shares of Illinois Tool Works from $203.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, April 14th. They noted that the move was a valuation call. Finally, The Goldman Sachs Group raised shares of Illinois Tool Works from a “sell” rating to a “neutral” rating and raised their price target for the company from $195.00 to $217.00 in a research report on Tuesday, January 19th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $214.59.

NYSE:ITW traded up $2.97 during midday trading on Tuesday, hitting $236.53. 9,337 shares of the company were exchanged, compared to its average volume of 1,112,929. The company has a fifty day simple moving average of $223.56 and a 200 day simple moving average of $209.38. Illinois Tool Works Inc. has a fifty-two week low of $148.66 and a fifty-two week high of $235.00. The company has a current ratio of 2.37, a quick ratio of 1.92 and a debt-to-equity ratio of 2.81. The company has a market capitalization of $74.86 billion, a PE ratio of 35.39, a price-to-earnings-growth ratio of 3.88 and a beta of 1.07.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, April 30th. The industrial products company reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.21. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.43 billion. Illinois Tool Works had a net margin of 16.77% and a return on equity of 80.95%. Illinois Tool Works’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.77 earnings per share. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 6.42 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 14th. Shareholders of record on Wednesday, March 31st were paid a $1.14 dividend. The ex-dividend date was Tuesday, March 30th. This represents a $4.56 dividend on an annualized basis and a yield of 1.93%. Illinois Tool Works’s dividend payout ratio is presently 58.84%.

In related news, CEO Ernest Scott Santi sold 1,231 shares of the stock in a transaction dated Thursday, February 11th. The shares were sold at an average price of $205.37, for a total value of $252,810.47. Following the sale, the chief executive officer now owns 295,172 shares of the company’s stock, valued at approximately $60,619,473.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Norman D. Jr. Finch sold 7,232 shares of the stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $203.00, for a total transaction of $1,468,096.00. Insiders own 0.79% of the company’s stock.

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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