Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Diversify Advisory Services LLC

Diversify Advisory Services LLC lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 52.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 943 shares of the industrial products company’s stock after selling 1,050 shares during the quarter. Diversify Advisory Services LLC’s holdings in Illinois Tool Works were worth $242,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ITW. Boston Financial Mangement LLC increased its holdings in shares of Illinois Tool Works by 8.6% in the third quarter. Boston Financial Mangement LLC now owns 10,795 shares of the industrial products company’s stock valued at $2,829,000 after purchasing an additional 858 shares during the period. Concord Wealth Partners grew its position in Illinois Tool Works by 4.7% in the 3rd quarter. Concord Wealth Partners now owns 1,814 shares of the industrial products company’s stock valued at $475,000 after buying an additional 82 shares during the last quarter. L. Roy Papp & Associates LLP purchased a new position in Illinois Tool Works during the 3rd quarter worth $214,000. J.W. Cole Advisors Inc. lifted its stake in shares of Illinois Tool Works by 9.8% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 8,113 shares of the industrial products company’s stock worth $2,126,000 after acquiring an additional 724 shares during the period. Finally, Financial Management Professionals Inc. boosted its holdings in shares of Illinois Tool Works by 28.0% in the third quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $263.08 on Friday. Illinois Tool Works Inc. has a 12-month low of $225.88 and a 12-month high of $271.15. The stock has a market cap of $78.11 billion, a P/E ratio of 22.76, a PEG ratio of 4.21 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 0.92 and a debt-to-equity ratio of 1.94. The company has a 50-day moving average of $255.59 and a two-hundred day moving average of $247.43.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.55 earnings per share. As a group, research analysts predict that Illinois Tool Works Inc. will post 10.16 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.28%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.90%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of recent analyst reports. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Barclays lifted their price target on Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday. Evercore ISI cut their price objective 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. Jefferies Financial Group decreased their target price on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, 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 report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $256.40.

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.