Chevy Chase Trust Holdings LLC Has $39.59 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Chevy Chase Trust Holdings LLC decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,061 shares of the industrial products company's stock after selling 3,391 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Illinois Tool Works worth $39,589,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its position in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock valued at $30,000 after buying an additional 106 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of Illinois Tool Works in the second quarter worth $30,000. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the third quarter valued at $32,000. Financial Connections Group Inc. bought a new stake in Illinois Tool Works during the 2nd quarter worth about $30,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works in the 3rd quarter valued at about $35,000. Institutional investors own 79.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays boosted their price target on Illinois Tool Works from $215.00 to $230.00 and gave the stock an "underweight" rating in a research report on Friday, November 1st. Wells Fargo & Company raised their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. StockNews.com raised Illinois Tool Works from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Robert W. Baird lifted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus increased their price target on Illinois Tool Works from $260.00 to $262.00 and gave the company a "hold" rating in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works currently has an average rating of "Hold" and an average target price of $257.30.

Illinois Tool Works Price Performance

NYSE ITW traded down $2.78 during midday trading on Tuesday, hitting $275.72. The company had a trading volume of 320,468 shares, compared to its average volume of 1,044,655. The company has a market capitalization of $81.42 billion, a PE ratio of 24.09, a P/E/G ratio of 4.30 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The firm has a 50-day moving average price of $264.35 and a 200-day moving average price of $250.78.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.55 earnings per share. As a group, analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.18%. Illinois Tool Works's payout ratio is 51.90%.

Illinois Tool Works 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.