Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 16.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 8,137 shares of the industrial products company’s stock after selling 1,645 shares during the period. Trillium Asset Management LLC’s holdings in Illinois Tool Works were worth $2,035,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Aspire Private Capital LLC purchased a new position in Illinois Tool Works in the 1st quarter worth about $16,798,050,000. GoalVest Advisory LLC acquired a new stake in shares of Illinois Tool Works during the second quarter valued at approximately $25,000. Northwest Capital Management Inc purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at approximately $28,000. Miller Wealth Advisors LLC purchased a new position in Illinois Tool Works during the 2nd quarter worth approximately $31,000. Finally, Quarry LP boosted its position in shares of Illinois Tool Works by 52.7% in the first quarter. Quarry LP now owns 142 shares of the industrial products company’s stock worth $35,000 after buying an additional 49 shares during the period. 79.56% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

NYSE:ITW traded up $1.77 during midday trading on Thursday, reaching $239.29. The stock had a trading volume of 80,801 shares, compared to its average volume of 1,080,842. The stock has a market capitalization of $72.00 billion, a P/E ratio of 23.04, a PEG ratio of 4.45 and a beta of 1.14. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.58 and a quick ratio of 1.13. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $264.19. The firm’s fifty day simple moving average is $231.85 and its 200-day simple moving average is $237.76.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.46 by $0.09. Illinois Tool Works had a return on equity of 95.68% and a net margin of 19.55%. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.10 billion. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $2.35 EPS. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 9.68 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Friday, December 29th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 54.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ITW shares. Credit Suisse Group increased their price objective on Illinois Tool Works from $281.00 to $292.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, July 19th. Morgan Stanley increased their price objective on Illinois Tool Works from $230.00 to $232.00 and gave the stock an “underweight” rating in a report on Thursday, August 3rd. JPMorgan Chase & Co. cut their price target on Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, October 16th. Finally, Barclays lowered their price target on Illinois Tool Works from $213.00 to $198.00 in a research note on Thursday, September 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $238.25.

Illinois Tool Works Company 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.