Eqis Capital Management Inc. cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 9.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,951 shares of the industrial products company’s stock after selling 409 shares during the quarter. Eqis Capital Management Inc.’s holdings in Illinois Tool Works were worth $763,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Illinois Tool Works by 3.6% in the second quarter. BlackRock Inc. now owns 22,446,860 shares of the industrial products company’s stock valued at $3,924,836,000 after buying an additional 772,245 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Illinois Tool Works by 11.7% in the second quarter. Bank of New York Mellon Corp now owns 4,184,198 shares of the industrial products company’s stock valued at $731,607,000 after buying an additional 438,056 shares during the last quarter. Bank of America Corp DE raised its stake in Illinois Tool Works by 3.8% in the second quarter. Bank of America Corp DE now owns 3,707,754 shares of the industrial products company’s stock valued at $648,301,000 after buying an additional 135,242 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Illinois Tool Works by 22.9% in the second quarter. Goldman Sachs Group Inc. now owns 1,971,797 shares of the industrial products company’s stock valued at $344,769,000 after buying an additional 367,413 shares during the last quarter. Finally, FMR LLC raised its stake in Illinois Tool Works by 36.5% in the second quarter. FMR LLC now owns 1,602,863 shares of the industrial products company’s stock valued at $280,262,000 after buying an additional 428,601 shares during the last quarter. Institutional investors own 78.12% of the company’s stock.

NYSE ITW opened at $203.84 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $115.94 and a fifty-two week high of $224.69. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.92 and a current ratio of 2.37. The firm has a market capitalization of $64.52 billion, a P/E ratio of 30.88, a price-to-earnings-growth ratio of 4.46 and a beta of 1.12. The stock’s fifty day moving average is $203.84 and its two-hundred day moving average is $186.79.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, October 23rd. The industrial products company reported $1.83 EPS for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.38. Illinois Tool Works had a return on equity of 80.95% and a net margin of 16.77%. The company had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the business earned $2.04 earnings per share. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 6.41 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Thursday, December 31st will be given a $1.14 dividend. The ex-dividend date is Wednesday, December 30th. This represents a $4.56 dividend on an annualized basis and a yield of 2.24%. Illinois Tool Works’s dividend payout ratio is currently 58.84%.

Several research analysts have recently issued reports on ITW shares. Deutsche Bank Aktiengesellschaft raised their price objective on Illinois Tool Works from $173.00 to $185.00 and gave the stock a “hold” rating in a research note on Monday, October 26th. Wells Fargo & Company lifted their price target on Illinois Tool Works from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. BMO Capital Markets lifted their price target on Illinois Tool Works from $205.00 to $225.00 in a research report on Monday, October 26th. Credit Suisse Group lifted their price target on Illinois Tool Works from $174.00 to $195.00 in a research report on Monday, August 3rd. Finally, Stifel Nicolaus lifted their price target on Illinois Tool Works from $194.00 to $195.00 and gave the company a “hold” rating in a research report on Monday, October 26th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company. Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $184.00.

Illinois Tool Works Company 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.

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

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