NorthRock Partners LLC Sells 1,414 Shares of Illinois Tool Works Inc. (NYSE:ITW)

NorthRock Partners LLC decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 14.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,486 shares of the industrial products company’s stock after selling 1,414 shares during the quarter. NorthRock Partners LLC’s holdings in Illinois Tool Works were worth $2,224,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norden Group LLC raised its stake in Illinois Tool Works by 30.6% in the first quarter. Norden Group LLC now owns 1,738 shares of the industrial products company’s stock valued at $466,000 after purchasing an additional 407 shares in the last quarter. Nordea Investment Management AB lifted its position in Illinois Tool Works by 8.5% during the 1st quarter. Nordea Investment Management AB now owns 29,393 shares of the industrial products company’s stock valued at $7,884,000 after acquiring an additional 2,312 shares during the period. Proficio Capital Partners LLC grew its stake in shares of Illinois Tool Works by 3.0% in the first quarter. Proficio Capital Partners LLC now owns 1,490 shares of the industrial products company’s stock worth $400,000 after acquiring an additional 44 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Illinois Tool Works during the 1st quarter valued at $1,147,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in shares of Illinois Tool Works by 109.9% during the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,086 shares of the industrial products company’s stock valued at $560,000 after purchasing an additional 1,092 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Evercore ISI decreased their price target on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Jefferies Financial Group reduced their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Finally, Stifel Nicolaus upped their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $256.40.

Illinois Tool Works Trading Up 0.4 %

NYSE:ITW traded up $0.96 during mid-day trading on Tuesday, reaching $264.84. The company’s stock had a trading volume of 44,994 shares, compared to its average volume of 1,058,722. Illinois Tool Works Inc. has a twelve month low of $227.66 and a twelve month high of $271.15. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The company’s fifty day simple moving average is $255.90 and its two-hundred day simple moving average is $247.50. The stock has a market cap of $78.21 billion, a P/E ratio of 22.83, a P/E/G ratio of 3.84 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $2.55 earnings per share. On average, equities analysts predict that Illinois Tool Works Inc. will post 10.75 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.27%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Illinois Tool Works 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.