Campbell & CO Investment Adviser LLC Reduces Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Campbell & CO Investment Adviser LLC lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 67.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,584 shares of the industrial products company’s stock after selling 5,425 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Illinois Tool Works were worth $595,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Illinois Tool Works during the 3rd quarter worth $253,000. Bell Investment Advisors Inc lifted its holdings in shares of Illinois Tool Works by 246.2% in the third quarter. Bell Investment Advisors Inc now owns 367 shares of the industrial products company’s stock valued at $85,000 after buying an additional 261 shares during the period. Pathstone Family Office LLC lifted its holdings in shares of Illinois Tool Works by 92.1% in the third quarter. Pathstone Family Office LLC now owns 39,487 shares of the industrial products company’s stock valued at $9,115,000 after buying an additional 18,935 shares during the period. Pine Valley Investments Ltd Liability Co lifted its holdings in shares of Illinois Tool Works by 3.0% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 10,312 shares of the industrial products company’s stock valued at $2,377,000 after buying an additional 301 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Illinois Tool Works by 3.9% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 23,008 shares of the industrial products company’s stock valued at $5,299,000 after buying an additional 874 shares during the period. Institutional investors and hedge funds own 79.56% of the company’s stock.

Illinois Tool Works Stock Up 0.5 %

NYSE:ITW opened at $255.75 on Monday. The firm has a market capitalization of $76.95 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 4.39 and a beta of 1.15. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $267.12. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. The business’s fifty day moving average price is $256.70 and its 200 day moving average price is $244.13.

Illinois Tool Works (NYSE:ITWGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.01. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. Illinois Tool Works’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.34 earnings per share. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Friday, March 29th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.19%. Illinois Tool Works’s payout ratio is 57.49%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the transaction, the chairman now owns 221,015 shares in the company, valued at $56,235,056.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.78% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ITW has been the subject of several research analyst reports. Stifel Nicolaus upped their price objective on Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a report on Tuesday, January 23rd. JPMorgan Chase & Co. cut their price objective on Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, October 16th. Barclays boosted their target price on Illinois Tool Works from $215.00 to $224.00 and gave the stock an “underweight” rating in a research report on Monday, February 5th. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Finally, Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $239.33.

Get Our Latest Analysis on Illinois Tool Works

About Illinois Tool Works

(Free Report)

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.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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