Taylor Hoffman Wealth Management Grows Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Taylor Hoffman Wealth Management grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 88.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,013 shares of the industrial products company’s stock after buying an additional 942 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in Illinois Tool Works were worth $315,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ITW. Private Advisor Group LLC increased its position in Illinois Tool Works by 76.0% in the second quarter. Private Advisor Group LLC now owns 36,641 shares of the industrial products company’s stock worth $5,526,000 after buying an additional 15,824 shares during the period. Charles Schwab Investment Management Inc. increased its position in Illinois Tool Works by 2.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,401,495 shares of the industrial products company’s stock worth $362,170,000 after buying an additional 65,298 shares during the period. First Personal Financial Services increased its position in Illinois Tool Works by 26.4% in the second quarter. First Personal Financial Services now owns 460 shares of the industrial products company’s stock worth $69,000 after buying an additional 96 shares during the period. Janney Montgomery Scott LLC increased its position in Illinois Tool Works by 10.4% in the second quarter. Janney Montgomery Scott LLC now owns 88,353 shares of the industrial products company’s stock worth $13,325,000 after buying an additional 8,288 shares during the period. Finally, Signaturefd LLC increased its position in Illinois Tool Works by 3.4% in the second quarter. Signaturefd LLC now owns 3,020 shares of the industrial products company’s stock worth $455,000 after buying an additional 100 shares during the period. Institutional investors own 78.17% of the company’s stock.

In related news, CAO Randall J. Scheuneman sold 11,977 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.63, for a total transaction of $2,055,612.51. Following the completion of the transaction, the chief accounting officer now owns 18,649 shares of the company’s stock, valued at $3,200,727.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael M. Larsen sold 35,617 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $159.61, for a total value of $5,684,829.37. Following the transaction, the chief financial officer now directly owns 38,726 shares of the company’s stock, valued at approximately $6,181,056.86. The disclosure for this sale can be found here. Insiders have sold 346,180 shares of company stock valued at $57,725,646 in the last ninety days. Company insiders own 0.87% of the company’s stock.

Several brokerages have weighed in on ITW. Seaport Global Securities reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, October 28th. Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating and set a $180.00 target price on the stock. in a research report on Monday, October 28th. Morgan Stanley raised their price target on Illinois Tool Works from $136.00 to $142.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Citigroup lowered their price target on Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, Wells Fargo & Co raised their price target on Illinois Tool Works from $170.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $150.57.

Shares of ITW traded down $0.10 during trading hours on Friday, reaching $176.41. 995,797 shares of the company’s stock traded hands, compared to its average volume of 1,318,047. The firm has a market capitalization of $56.63 billion, a price-to-earnings ratio of 23.21, a P/E/G ratio of 2.99 and a beta of 1.22. The company has a debt-to-equity ratio of 2.57, a current ratio of 2.81 and a quick ratio of 2.27. Illinois Tool Works Inc. has a twelve month low of $117.75 and a twelve month high of $179.29. The business’s fifty day simple moving average is $160.07 and its two-hundred day simple moving average is $153.13.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, October 25th. The industrial products company reported $2.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.10. Illinois Tool Works had a return on equity of 80.38% and a net margin of 17.49%. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter last year, the business posted $1.76 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. On average, equities research analysts expect that Illinois Tool Works Inc. will post 7.7 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $4.28 annualized dividend and a yield of 2.43%. Illinois Tool Works’s dividend payout ratio is currently 56.32%.

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.

Recommended Story: What is a Lock-Up Period?

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).

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

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.