Jefferies Group LLC Sells 23,397 Shares of Illinois Tool Works Inc. (ITW)

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Jefferies Group LLC reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 45.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 28,198 shares of the industrial products company’s stock after selling 23,397 shares during the quarter. Jefferies Group LLC’s holdings in Illinois Tool Works were worth $3,979,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Spearhead Capital Advisors LLC boosted its stake in shares of Illinois Tool Works by 4.5% in the third quarter. Spearhead Capital Advisors LLC now owns 22,083 shares of the industrial products company’s stock valued at $3,106,000 after buying an additional 955 shares during the period. Factory Mutual Insurance Co. lifted its stake in Illinois Tool Works by 2.2% during the third quarter. Factory Mutual Insurance Co. now owns 308,600 shares of the industrial products company’s stock worth $43,550,000 after purchasing an additional 6,700 shares during the last quarter. State Treasurer State of Michigan lifted its stake in Illinois Tool Works by 150.8% during the second quarter. State Treasurer State of Michigan now owns 226,997 shares of the industrial products company’s stock worth $31,448,000 after purchasing an additional 136,500 shares during the last quarter. Stephens Inc. AR lifted its stake in Illinois Tool Works by 8.4% during the second quarter. Stephens Inc. AR now owns 52,327 shares of the industrial products company’s stock worth $7,249,000 after purchasing an additional 4,038 shares during the last quarter. Finally, Strategic Advisors LLC bought a new stake in Illinois Tool Works during the third quarter worth $205,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Several research firms have weighed in on ITW. Robert W. Baird set a $130.00 target price on Illinois Tool Works and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Zacks Investment Research upgraded Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Wells Fargo & Co set a $145.00 target price on Illinois Tool Works and gave the stock a “buy” rating in a research note on Thursday, October 25th. Credit Suisse Group restated a “hold” rating and set a $131.00 target price on shares of Illinois Tool Works in a research note on Friday. Finally, Seaport Global Securities cut Illinois Tool Works from a “buy” rating to a “neutral” rating and cut their target price for the stock from $170.00 to $132.00 in a research note on Thursday, October 25th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $147.69.

Shares of ITW opened at $129.47 on Friday. Illinois Tool Works Inc. has a 52 week low of $119.38 and a 52 week high of $179.07. The firm has a market capitalization of $44.22 billion, a PE ratio of 19.65, a PEG ratio of 1.77 and a beta of 1.28. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.62 and a quick ratio of 1.26.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $1.90 EPS for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.02. Illinois Tool Works had a return on equity of 63.11% and a net margin of 12.69%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the company earned $1.71 EPS. Illinois Tool Works’s revenue was down .1% compared to the same quarter last year. As a group, analysts expect that Illinois Tool Works Inc. will post 7.6 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Monday, December 31st will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Friday, December 28th. Illinois Tool Works’s payout ratio is 60.70%.

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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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