Capital Investment Services of America Inc. Trims Position in Illinois Tool Works Inc. (NYSE:ITW)

Capital Investment Services of America Inc. trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 10.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,303 shares of the industrial products company’s stock after selling 9,239 shares during the quarter. Illinois Tool Works makes up approximately 1.9% of Capital Investment Services of America Inc.’s portfolio, making the stock its 26th biggest holding. Capital Investment Services of America Inc.’s holdings in Illinois Tool Works were worth $20,259,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ITW. PEAK6 Investments LLC grew its position in shares of Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 140 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Illinois Tool Works during the first quarter worth about $1,147,000. Envestnet Portfolio Solutions Inc. increased its stake in Illinois Tool Works by 78.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock worth $9,907,000 after acquiring an additional 16,216 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Illinois Tool Works by 7.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock valued at $37,999,000 after acquiring an additional 9,825 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Illinois Tool Works by 28.6% during the 1st quarter. Russell Investments Group Ltd. now owns 201,720 shares of the industrial products company’s stock valued at $54,122,000 after acquiring an additional 44,898 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Up 0.4 %

ITW traded up $1.00 on Monday, hitting $264.08. 152,270 shares of the company were exchanged, compared to its average volume of 1,060,736. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.92 and a current ratio of 1.36. Illinois Tool Works Inc. has a 12 month low of $227.66 and a 12 month high of $271.15. The firm has a fifty day simple moving average of $255.59 and a two-hundred day simple moving average of $247.39. The stock has a market capitalization of $77.98 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 3.97 and a beta of 1.10.

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, beating analysts’ consensus estimates of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.55 EPS. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.63 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Wall Street Analyst Weigh In

ITW has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Jefferies Financial Group cut their target price on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. 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 report on Wednesday, October 16th. Finally, Robert W. Baird raised their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $256.40.

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.