Keybank National Association OH trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,346 shares of the industrial products company’s stock after selling 4,392 shares during the quarter. Keybank National Association OH’s holdings in Illinois Tool Works were worth $10,351,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ITW. SRS Capital Advisors Inc. grew its position in Illinois Tool Works by 540.9% during the third quarter. SRS Capital Advisors Inc. now owns 737 shares of the industrial products company’s stock worth $104,000 after buying an additional 622 shares in the last quarter. Kaizen Advisory LLC grew its position in Illinois Tool Works by 151.0% during the second quarter. Kaizen Advisory LLC now owns 748 shares of the industrial products company’s stock worth $104,000 after buying an additional 450 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Illinois Tool Works by 220.1% during the third quarter. Capital Advisors Ltd. LLC now owns 797 shares of the industrial products company’s stock worth $112,000 after buying an additional 548 shares in the last quarter. Sun Life Financial INC grew its position in Illinois Tool Works by 277.2% during the second quarter. Sun Life Financial INC now owns 826 shares of the industrial products company’s stock worth $114,000 after buying an additional 607 shares in the last quarter. Finally, Fort L.P. acquired a new stake in Illinois Tool Works during the second quarter worth about $117,000. 77.43% of the stock is currently owned by institutional investors.

NYSE:ITW opened at $133.99 on Tuesday. Illinois Tool Works Inc. has a 1 year low of $119.38 and a 1 year high of $179.07. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.62 and a quick ratio of 1.26. The company has a market capitalization of $44.99 billion, a PE ratio of 20.33, a PEG ratio of 1.80 and a beta of 1.26.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, October 24th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the company posted $1.71 earnings per share. Illinois Tool Works’s quarterly revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 7.6 EPS for the current year.

Illinois Tool Works declared that its board has initiated a share repurchase plan on Friday, August 3rd that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Monday, December 31st will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, December 28th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 60.70%.

A number of equities research analysts recently weighed in on ITW shares. ValuEngine downgraded Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. Seaport Global Securities downgraded Illinois Tool Works from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $170.00 to $132.00 in a research report on Thursday, October 25th. Zacks Investment Research raised Illinois Tool Works from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Credit Suisse Group decreased their target price on Illinois Tool Works from $146.00 to $131.00 and set a “neutral” rating on the stock in a research report on Thursday, October 25th. Finally, Wells Fargo & Co set a $145.00 target price on Illinois Tool Works and gave the stock a “buy” rating in a research report on Thursday, October 25th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Illinois Tool Works has a consensus rating of “Hold” and an average target price of $150.18.

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Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

Further Reading: What does EPS mean?

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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