Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Qsemble Capital Management LP

Qsemble Capital Management LP lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 35.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,753 shares of the industrial products company’s stock after selling 3,733 shares during the period. Qsemble Capital Management LP’s holdings in Illinois Tool Works were worth $1,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of ITW. Frazier Financial Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at $26,000. Security National Bank acquired a new position in Illinois Tool Works in the fourth quarter valued at $28,000. Financial Connections Group Inc. acquired a new position in Illinois Tool Works in the second quarter valued at $30,000. Christopher J. Hasenberg Inc acquired a new position in Illinois Tool Works in the first quarter valued at $32,000. Finally, Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works in the first quarter valued at $34,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.5 %

Shares of Illinois Tool Works stock opened at $248.20 on Friday. Illinois Tool Works Inc. has a 12-month low of $217.50 and a 12-month high of $271.15. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. The stock has a market cap of $74.06 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 3.88 and a beta of 1.10. The company has a 50-day moving average of $244.16 and a two-hundred day moving average of $248.55.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the company posted $2.41 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 59.17%.

Analyst Ratings Changes

ITW has been the subject of several recent research reports. Evercore ISI decreased their target price 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. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group decreased their target price 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. Stifel Nicolaus decreased their target price on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company increased their target price on shares of Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and an average target price of $250.22.

Illinois Tool Works Company Profile

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.