Elo Mutual Pension Insurance Co Sells 1,892 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Elo Mutual Pension Insurance Co decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,600 shares of the industrial products company’s stock after selling 1,892 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Illinois Tool Works were worth $6,066,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC bought a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $26,000. Security National Bank bought a new position in Illinois Tool Works during the fourth quarter worth $28,000. Financial Connections Group Inc. acquired a new stake in Illinois Tool Works in the second quarter worth $30,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works in the first quarter valued at $34,000. Finally, General Partner Inc. acquired a new position in shares of Illinois Tool Works during the first quarter valued at about $35,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the subject of a number of research analyst reports. Evercore ISI decreased their target price on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Barclays lowered their target price on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $230.00 to $236.00 and gave the company an “underweight” rating in a research report on Wednesday, July 31st. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $250.22.

Illinois Tool Works Stock Down 0.7 %

ITW opened at $252.94 on Thursday. Illinois Tool Works Inc. has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. The company’s 50-day moving average is $245.72 and its 200 day moving average is $248.25. The firm has a market capitalization of $75.48 billion, a P/E ratio of 24.94, a PEG ratio of 3.93 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. The firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.41 EPS. Research analysts expect that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.37%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, September 30th. Illinois Tool Works’s payout ratio is presently 59.17%.

About Illinois Tool Works

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.