Loudon Investment Management LLC Sells 125 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Loudon Investment Management LLC decreased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,696 shares of the industrial products company’s stock after selling 125 shares during the period. Illinois Tool Works comprises about 2.7% of Loudon Investment Management LLC’s holdings, making the stock its 11th largest holding. Loudon Investment Management LLC’s holdings in Illinois Tool Works were worth $3,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Delta Asset Management LLC TN increased its position in Illinois Tool Works by 8.0% in the 3rd quarter. Delta Asset Management LLC TN now owns 809 shares of the industrial products company’s stock valued at $127,000 after acquiring an additional 60 shares during the period. Blue Chip Partners Inc. increased its position in shares of Illinois Tool Works by 1.6% during the third quarter. Blue Chip Partners Inc. now owns 3,812 shares of the industrial products company’s stock worth $597,000 after buying an additional 61 shares during the period. Gables Capital Management Inc. increased its position in shares of Illinois Tool Works by 3.4% during the third quarter. Gables Capital Management Inc. now owns 1,858 shares of the industrial products company’s stock worth $290,000 after buying an additional 61 shares during the period. Benjamin Edwards Inc. increased its position in shares of Illinois Tool Works by 6.7% during the third quarter. Benjamin Edwards Inc. now owns 1,015 shares of the industrial products company’s stock worth $159,000 after buying an additional 64 shares during the period. Finally, Allworth Financial LP increased its position in shares of Illinois Tool Works by 25.1% during the third quarter. Allworth Financial LP now owns 349 shares of the industrial products company’s stock worth $55,000 after buying an additional 70 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $180.00 target price on the stock. in a research note on Monday, October 28th. Citigroup cut their target price on shares of Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Morgan Stanley increased their target price on shares of Illinois Tool Works from $136.00 to $142.00 and gave the stock an “underweight” rating in a research note on Monday, October 28th. Argus set a $180.00 target price on shares of Illinois Tool Works and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Goldman Sachs Group lowered shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 price objective on the stock. in a research note on Monday, September 23rd. They noted that the move was a valuation call. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $150.57.

In other news, CEO Ernest Scott Santi sold 152,594 shares of Illinois Tool Works stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $169.05, for a total value of $25,796,015.70. Following the completion of the transaction, the chief executive officer now owns 150,922 shares in the company, valued at $25,513,364.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Christopher A. O’herlihy sold 37,301 shares of Illinois Tool Works stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.69, for a total transaction of $6,404,208.69. Following the completion of the transaction, the insider now owns 65,674 shares of the company’s stock, valued at approximately $11,275,569.06. 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 90 days. 0.87% of the stock is currently owned by corporate insiders.

Shares of ITW traded down $1.20 during trading hours on Monday, reaching $175.21. 527,507 shares of the stock traded hands, compared to its average volume of 1,318,047. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 2.57. The stock has a fifty day simple moving average of $160.07 and a 200 day simple moving average of $153.13. Illinois Tool Works Inc. has a 52 week low of $117.75 and a 52 week high of $179.29. The company has a market cap of $56.63 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 2.99 and a beta of 1.22.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, October 25th. The industrial products company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.10. Illinois Tool Works had a net margin of 17.49% and a return on equity of 80.38%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the firm earned $1.76 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. Analysts predict that Illinois Tool Works Inc. will post 7.7 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.07 per share. The ex-dividend date is Monday, December 30th. This represents a $4.28 dividend on an annualized basis and a yield of 2.44%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 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.

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

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