Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Creative Planning

Creative Planning lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,632 shares of the industrial products company’s stock after selling 8,498 shares during the period. Creative Planning’s holdings in Illinois Tool Works were worth $20,345,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Harrington Investments INC grew its stake in Illinois Tool Works by 0.9% during the 3rd quarter. Harrington Investments INC now owns 11,518 shares of the industrial products company’s stock valued at $3,019,000 after acquiring an additional 100 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Illinois Tool Works during the 3rd quarter valued at about $204,000. Affinity Wealth Management LLC grew its stake in Illinois Tool Works by 7.2% during the 3rd quarter. Affinity Wealth Management LLC now owns 908 shares of the industrial products company’s stock valued at $238,000 after acquiring an additional 61 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Illinois Tool Works during the 3rd quarter valued at about $303,000. Finally, Procyon Advisors LLC grew its stake in Illinois Tool Works by 2.7% during the 3rd quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock valued at $422,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $261.03 on Monday. The stock has a market capitalization of $77.89 billion, a P/E ratio of 25.74, a PEG ratio of 4.10 and a beta of 1.10. 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 quick ratio of 0.92 and a current ratio of 1.30. The company has a 50 day moving average price of $252.37 and a 200 day moving average price of $247.33.

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

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.30%. Illinois Tool Works’s dividend payout ratio is 59.17%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Evercore ISI dropped 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 note on Monday, August 19th. Stifel Nicolaus increased 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 note on Wednesday, October 16th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Jefferies Financial Group dropped their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Finally, Wells Fargo & Company increased their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $255.44.

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.