Park Place Capital Corp Sells 90 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Park Place Capital Corp lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 20.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 345 shares of the industrial products company’s stock after selling 90 shares during the period. Park Place Capital Corp’s holdings in Illinois Tool Works were worth $90,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ITW. Dynamic Advisor Solutions LLC lifted its holdings in shares of Illinois Tool Works by 2.0% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,552 shares of the industrial products company’s stock worth $1,193,000 after acquiring an additional 88 shares during the period. Callan Family Office LLC bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth approximately $336,000. Mather Group LLC. lifted its holdings in shares of Illinois Tool Works by 4.0% during the 3rd quarter. Mather Group LLC. now owns 54,794 shares of the industrial products company’s stock worth $14,360,000 after acquiring an additional 2,130 shares during the period. Fulton Bank N.A. bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth approximately $214,000. Finally, Shotwell Rutter Baer Inc bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth approximately $221,000. Institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upped their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday. Evercore ISI lowered their price objective on shares of 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. Finally, Barclays lowered their price objective on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $251.78.

Illinois Tool Works Trading Down 0.1 %

NYSE:ITW opened at $255.70 on Wednesday. The firm’s fifty day moving average is $249.16 and its 200-day moving average is $247.76. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15. The firm has a market cap of $76.30 billion, a P/E ratio of 25.22, a P/E/G ratio of 4.09 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the firm posted $2.41 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis. Equities analysts expect that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.35%. Illinois Tool Works’s dividend payout ratio is currently 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.