Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC lowered its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 32.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,041 shares of the industrial products company's stock after selling 1,952 shares during the period. OneDigital Investment Advisors LLC's holdings in Illinois Tool Works were worth $1,059,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Financial Connections Group Inc. purchased a new position in Illinois Tool Works during the second quarter valued at $30,000. Fairscale Capital LLC bought a new position in Illinois Tool Works in the 2nd quarter worth about $30,000. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works during the 3rd quarter valued at about $32,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works during the 3rd quarter valued at about $35,000. Finally, Meeder Asset Management Inc. raised its holdings in Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company's stock worth $38,000 after buying an additional 115 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ITW has been the subject of several analyst reports. Robert W. Baird raised their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. StockNews.com raised Illinois Tool Works from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Argus raised Illinois Tool Works to a "strong-buy" rating in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their target price on Illinois Tool Works from $260.00 to $262.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Finally, Evercore ISI downgraded shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and raised their price target for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $257.30.

Illinois Tool Works Stock Down 1.3 %

NYSE:ITW traded down $3.60 during midday trading on Tuesday, reaching $266.46. 613,268 shares of the stock traded hands, compared to its average volume of 1,053,727. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The stock has a market capitalization of $78.69 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 4.19 and a beta of 1.10. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $277.58. The business has a 50-day moving average of $260.56 and a two-hundred day moving average of $249.18.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the business posted $2.55 EPS. Illinois Tool Works's revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.25%. Illinois Tool Works's payout ratio is currently 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.