Entropy Technologies LP Reduces Position in Illinois Tool Works Inc. (NYSE:ITW)

Entropy Technologies LP lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 40.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,742 shares of the industrial products company's stock after selling 16,519 shares during the quarter. Illinois Tool Works makes up approximately 0.7% of Entropy Technologies LP's portfolio, making the stock its 19th largest holding. Entropy Technologies LP's holdings in Illinois Tool Works were worth $6,484,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. PEAK6 Investments LLC grew its stake in shares of Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company's stock valued at $253,000 after purchasing an additional 140 shares during the period. Handelsbanken Fonder AB lifted its position in Illinois Tool Works by 7.3% during the third quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company's stock worth $37,999,000 after buying an additional 9,825 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Illinois Tool Works by 28.6% in the first quarter. Russell Investments Group Ltd. now owns 201,720 shares of the industrial products company's stock valued at $54,122,000 after buying an additional 44,898 shares in the last quarter. BDF Gestion purchased a new stake in Illinois Tool Works during the 2nd quarter worth about $1,727,000. Finally, NewEdge Advisors LLC raised its stake in Illinois Tool Works by 7.8% during the 2nd quarter. NewEdge Advisors LLC now owns 175,921 shares of the industrial products company's stock valued at $41,686,000 after acquiring an additional 12,804 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Evercore ISI reduced their target price on Illinois Tool Works from $251.00 to $246.00 and set an "in-line" rating on the stock in a report on Monday, August 19th. StockNews.com raised shares of Illinois Tool Works from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Argus upgraded shares of Illinois Tool Works to a "strong-buy" rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Finally, Barclays raised their price target on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an "underweight" rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of "Hold" and an average target price of $256.40.

Illinois Tool Works Stock Performance

Shares of NYSE ITW traded down $3.07 during mid-day trading on Tuesday, hitting $271.20. The company had a trading volume of 749,712 shares, compared to its average volume of 1,057,919. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The stock has a market cap of $80.09 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 4.22 and a beta of 1.10. The firm's 50 day simple moving average is $258.03 and its two-hundred day simple moving average is $248.27. Illinois Tool Works Inc. has a 12 month low of $231.21 and a 12 month high of $277.58.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm had revenue of $3.97 billion during the quarter, compared to analysts' expectations of $4.02 billion. During the same quarter in the previous year, the company posted $2.55 EPS. Illinois Tool Works's revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works's payout ratio is 51.90%.

About Illinois Tool Works

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.