Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,484,372 shares of the industrial products company’s stock after selling 2,391 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Illinois Tool Works were worth $651,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PEAK6 Investments LLC lifted its stake in Illinois Tool Works by 17.5% in the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after buying an additional 140 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in shares of Illinois Tool Works in the third quarter worth about $1,179,000. Handelsbanken Fonder AB grew its position in shares of Illinois Tool Works by 7.3% during the third quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock worth $37,999,000 after buying an additional 9,825 shares in the last quarter. BDF Gestion bought a new stake in shares of Illinois Tool Works in the 2nd quarter worth about $1,727,000. Finally, NewEdge Advisors LLC raised its stake in Illinois Tool Works by 7.8% during the second quarter. NewEdge Advisors LLC now owns 175,921 shares of the industrial products company’s stock valued at $41,686,000 after buying an additional 12,804 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the subject of several recent research reports. Robert W. Baird upped their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. upped their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $257.30.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $269.90 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The stock has a 50 day simple moving average of $261.76 and a 200 day simple moving average of $249.60. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $277.58. The stock has a market cap of $79.70 billion, a P/E ratio of 23.35, a PEG ratio of 4.13 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the business earned $2.55 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.22%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.90%.

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.