Mountain Pacific Investment Advisers LLC Sells 50 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Mountain Pacific Investment Advisers LLC reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,420 shares of the industrial products company’s stock after selling 50 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Illinois Tool Works were worth $2,642,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its holdings in Illinois Tool Works by 1.2% during the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after purchasing an additional 149,272 shares during the last quarter. Geode Capital Management LLC increased its position in Illinois Tool Works by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after buying an additional 167,422 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Illinois Tool Works by 4.2% during the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock worth $877,234,000 after buying an additional 135,023 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Illinois Tool Works by 2.4% in the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after acquiring an additional 62,645 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Illinois Tool Works by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock valued at $484,685,000 after acquiring an additional 32,656 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $256.50 on Tuesday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The company has a market cap of $75.74 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 3.55 and a beta of 1.11. The firm has a 50 day simple moving average of $264.26 and a 200 day simple moving average of $255.73.

Illinois Tool Works (NYSE:ITW) last announced 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 analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.55 EPS. Research analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

Analysts Set New Price Targets

ITW has been the subject of several analyst reports. Jefferies Financial Group lifted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Citigroup cut their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Wells Fargo & Company cut their target price on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Finally, Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $270.11.

Illinois Tool Works Company 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.