Uncommon Cents Investing LLC Sells 1,665 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Uncommon Cents Investing LLC decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,710 shares of the industrial products company’s stock after selling 1,665 shares during the quarter. Illinois Tool Works comprises 2.6% of Uncommon Cents Investing LLC’s holdings, making the stock its 13th largest holding. Uncommon Cents Investing LLC’s holdings in Illinois Tool Works were worth $4,023,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisor Partners LLC increased its holdings in shares of Illinois Tool Works by 7.8% during the third quarter. Advisor Partners LLC now owns 11,916 shares of the industrial products company’s stock valued at $1,865,000 after acquiring an additional 861 shares in the last quarter. Strategic Blueprint LLC bought a new stake in shares of Illinois Tool Works during the third quarter valued at approximately $31,000. Signaturefd LLC increased its holdings in shares of Illinois Tool Works by 11.2% during the third quarter. Signaturefd LLC now owns 3,357 shares of the industrial products company’s stock valued at $525,000 after acquiring an additional 337 shares in the last quarter. PGGM Investments increased its holdings in shares of Illinois Tool Works by 26.3% during the third quarter. PGGM Investments now owns 168,254 shares of the industrial products company’s stock valued at $26,330,000 after acquiring an additional 35,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Illinois Tool Works by 3.6% during the third quarter. Assenagon Asset Management S.A. now owns 5,800 shares of the industrial products company’s stock valued at $908,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 77.57% of the company’s stock.

In other news, insider Michael R. Zimmerman sold 9,325 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $160.00, for a total transaction of $1,492,000.00. Following the transaction, the insider now owns 16,315 shares of the company’s stock, valued at approximately $2,610,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael M. Larsen sold 35,617 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $159.61, for a total value of $5,684,829.37. Following the transaction, the chief financial officer now directly owns 38,726 shares in the company, valued at approximately $6,181,056.86. The disclosure for this sale can be found here. In the last three months, insiders sold 158,458 shares of company stock worth $25,172,163. Insiders own 0.87% of the company’s stock.

ITW stock traded up $1.16 during midday trading on Thursday, hitting $156.92. The company’s stock had a trading volume of 24,350 shares, compared to its average volume of 1,011,491. The stock’s 50-day moving average price is $152.98 and its 200 day moving average price is $151.35. The company has a quick ratio of 2.30, a current ratio of 2.87 and a debt-to-equity ratio of 2.52. Illinois Tool Works Inc. has a 1 year low of $117.75 and a 1 year high of $161.71. The stock has a market cap of $50.99 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.73 and a beta of 1.22.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.03. Illinois Tool Works had a return on equity of 76.17% and a net margin of 17.17%. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the previous year, the firm earned $1.97 earnings per share. The business’s revenue was down 5.8% on a year-over-year basis. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 7.68 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Monday, September 30th were given a $1.07 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $4.28 annualized dividend and a yield of 2.73%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.00. Illinois Tool Works’s payout ratio is currently 56.32%.

Several research analysts recently issued reports on the company. UBS Group lifted their target price on Illinois Tool Works from $150.00 to $154.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Morgan Stanley cut their target price on Illinois Tool Works from $140.00 to $136.00 and set an “underweight” rating on the stock in a research report on Wednesday. Credit Suisse Group lifted their target price on Illinois Tool Works from $124.00 to $152.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Citigroup cut their target price on Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Goldman Sachs Group cut Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 target price on the stock. in a research report on Monday, September 23rd. They noted that the move was a valuation call. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $141.50.

About Illinois Tool Works

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.

Featured Article: What is Cost of Capital?

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).

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

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.