Illinois Tool Works (ITW) Stake Lowered by Coho Partners Ltd.

Coho Partners Ltd. reduced its holdings in Illinois Tool Works (NYSE:ITW) by 34.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 769,409 shares of the industrial products company’s stock after selling 410,202 shares during the quarter. Illinois Tool Works comprises 3.2% of Coho Partners Ltd.’s investment portfolio, making the stock its 19th biggest holding. Coho Partners Ltd. owned 0.23% of Illinois Tool Works worth $120,536,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pioneer Trust Bank N A OR lifted its holdings in shares of Illinois Tool Works by 1.3% in the 4th quarter. Pioneer Trust Bank N A OR now owns 22,955 shares of the industrial products company’s stock valued at $3,830,000 after buying an additional 300 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Illinois Tool Works by 0.7% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 46,915 shares of the industrial products company’s stock worth $7,786,000 after purchasing an additional 322 shares during the last quarter. Tredje AP fonden raised its holdings in Illinois Tool Works by 1.1% during the first quarter. Tredje AP fonden now owns 32,524 shares of the industrial products company’s stock worth $5,121,000 after purchasing an additional 350 shares during the last quarter. Signaturefd LLC raised its holdings in Illinois Tool Works by 26.5% during the fourth quarter. Signaturefd LLC now owns 1,740 shares of the industrial products company’s stock worth $290,000 after purchasing an additional 364 shares during the last quarter. Finally, Sigma Planning Corp raised its holdings in Illinois Tool Works by 8.9% during the fourth quarter. Sigma Planning Corp now owns 4,504 shares of the industrial products company’s stock worth $752,000 after purchasing an additional 368 shares during the last quarter. 78.16% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works stock opened at $145.77 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.20 and a debt-to-equity ratio of 1.65. The firm has a market cap of $49.45 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 1.86 and a beta of 1.25. Illinois Tool Works has a fifty-two week low of $144.54 and a fifty-two week high of $146.36.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Thursday, April 26th. The industrial products company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.04. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Illinois Tool Works had a return on equity of 51.79% and a net margin of 12.36%. Illinois Tool Works’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.54 earnings per share. research analysts anticipate that Illinois Tool Works will post 7.78 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 11th. Shareholders of record on Friday, June 29th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, June 28th. Illinois Tool Works’s payout ratio is 47.34%.

Several brokerages recently issued reports on ITW. Seaport Global Securities reaffirmed a “buy” rating and set a $200.00 price objective on shares of Illinois Tool Works in a report on Thursday, January 25th. ValuEngine cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Tuesday, April 24th. Stifel Nicolaus reduced their price objective on Illinois Tool Works from $186.00 to $162.00 and set a “hold” rating for the company in a report on Monday, April 16th. Zacks Investment Research cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, March 19th. Finally, Argus lifted their price objective on Illinois Tool Works to $200.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $177.67.

Illinois Tool Works 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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