SG Americas Securities LLC Cuts Position in Illinois Tool Works Inc. (NYSE:ITW)

SG Americas Securities LLC reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 87.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,047 shares of the industrial products company’s stock after selling 7,543 shares during the quarter. SG Americas Securities LLC’s holdings in Illinois Tool Works were worth $231,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. 180 Wealth Advisors LLC lifted its position in Illinois Tool Works by 3.1% in the 4th quarter. 180 Wealth Advisors LLC now owns 1,392 shares of the industrial products company’s stock valued at $318,000 after purchasing an additional 42 shares during the last quarter. Bank OZK grew its stake in shares of Illinois Tool Works by 0.9% during the third quarter. Bank OZK now owns 5,065 shares of the industrial products company’s stock valued at $915,000 after purchasing an additional 45 shares during the last quarter. First Hawaiian Bank raised its holdings in shares of Illinois Tool Works by 3.7% during the fourth quarter. First Hawaiian Bank now owns 1,277 shares of the industrial products company’s stock worth $281,000 after acquiring an additional 45 shares during the period. Insight Folios Inc increased its stake in Illinois Tool Works by 3.0% in the 4th quarter. Insight Folios Inc now owns 1,599 shares of the industrial products company’s stock valued at $352,000 after buying an additional 47 shares during the last quarter. Finally, Ten Capital Wealth Advisors LLC raised its stake in Illinois Tool Works by 16.0% in the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 348 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 48 shares in the last quarter. 79.83% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.2 %

NYSE:ITW opened at $228.75 on Thursday. The company has a market cap of $69.52 billion, a PE ratio of 22.88, a P/E/G ratio of 3.44 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $173.52 and a twelve month high of $253.37. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 1.78. The company’s 50 day moving average is $233.82 and its two-hundred day moving average is $228.79.

Illinois Tool Works (NYSE:ITW – Get Rating) last issued its earnings results on Tuesday, May 2nd. The industrial products company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.10. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.98 billion. Illinois Tool Works had a net margin of 19.27% and a return on equity of 92.13%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.11 earnings per share. Analysts anticipate that Illinois Tool Works Inc. will post 9.66 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 13th. Investors of record on Friday, June 30th will be given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, June 29th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.40%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ITW. Wells Fargo & Company lowered their target price on shares of Illinois Tool Works from $250.00 to $227.00 and set an “equal weight” rating for the company in a report on Thursday, April 13th. UBS Group raised their price target on Illinois Tool Works from $213.00 to $245.00 and gave the stock a “neutral” rating in a research report on Thursday, February 9th. Stifel Nicolaus dropped their price target on Illinois Tool Works from $240.00 to $236.00 in a research note on Wednesday, May 3rd. Credit Suisse Group boosted their price target on Illinois Tool Works from $259.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Finally, Barclays reduced their price target on Illinois Tool Works from $205.00 to $203.00 in a research report on Wednesday, May 3rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $228.21.

About Illinois Tool Works

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Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.