Illinois Tool Works (ITW) : Congress Asset Management Co reduced its stake in Illinois Tool Works by 3.96% during the most recent quarter end. The investment management company now holds a total of 553,759 shares of Illinois Tool Works which is valued at $68,394,774 after selling 22,809 shares in Illinois Tool Works , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Illinois Tool Works makes up approximately 1.51% of Congress Asset Management Co’s portfolio.
Other Hedge Funds, Including , Raymond James Financial Services Advisors boosted its stake in ITW in the latest quarter, The investment management firm added 17,908 additional shares and now holds a total of 106,793 shares of Illinois Tool Works which is valued at $13,190,003. Illinois Tool Works makes up approx 0.12% of Raymond James Financial Services Advisors’s portfolio.Pictet Cie (europe) Sa reduced its stake in ITW by selling 857 shares or 10.08% in the most recent quarter. The Hedge Fund company now holds 7,647 shares of ITW which is valued at $895,923. Illinois Tool Works makes up approx 0.17% of Pictet Cie (europe) Sa’s portfolio.
Illinois Tool Works closed down -0.13 points or -0.10% at $123.96 with 10,64,827 shares getting traded on Monday. Post opening the session at $123.94, the shares hit an intraday low of $123.22 and an intraday high of $124.39 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Illinois Tool Works reported $1.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 20, 2016. Analyst had a consensus of $1.49. The company had revenue of $3495.00 million for the quarter, compared to analysts expectations of $3502.15 million. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 EPS.
Investors should note that on Oct 28, 2016, Illinois Tool Works announced a cash dividend of $0.6500. The company’s management has announced Dec 28, 2016 as the ex-dividend date and fixed the record date on Dec 30, 2016. The payable date has been fixed on Jan 11, 2017.
Many Wall Street Analysts have commented on Illinois Tool Works. Illinois Tool Works was Downgraded by Goldman to ” Neutral” on Nov 21, 2016.
Illinois Tool Works Inc. (ITW) is a manufacturer of a range of industrial products and equipment. The Company’s operates in seven segments: Automotive OEM Test & Measurement and Electronics Food Equipment Polymers & Fluids Welding Construction Products and Specialty Products. These operations serve end markets as automotive original equipment manufacturers/tiers automotive aftermarket general industrial commercial food equipment and construction. It produces components and fasteners for automotive-related applications; equipment consumables and related software; commercial food equipment adhesives sealants lubrication and cutting fluids; arc welding equipment consumables and accessories; construction fastening systems and truss products and beverage packaging equipment and consumables. The Company operates approximately 90 divisions in 57 countries.