M. Kraus & Co Has $11.08 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

M. Kraus & Co cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,269 shares of the industrial products company’s stock after selling 1,012 shares during the quarter. Illinois Tool Works accounts for approximately 3.2% of M. Kraus & Co’s investment portfolio, making the stock its 9th largest position. M. Kraus & Co’s holdings in Illinois Tool Works were worth $11,077,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Connections Group Inc. purchased a new position in shares of Illinois Tool Works in the second quarter valued at $30,000. Fairscale Capital LLC purchased a new position in shares of Illinois Tool Works in the second quarter valued at $30,000. Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works in the first quarter valued at $34,000. General Partner Inc. purchased a new position in shares of Illinois Tool Works in the first quarter valued at $35,000. Finally, Rise Advisors LLC purchased a new position in shares of Illinois Tool Works in the first quarter valued at $35,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 0.3 %

Shares of ITW stock traded up $0.74 on Monday, hitting $261.33. The stock had a trading volume of 164,129 shares, compared to its average volume of 1,076,295. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The business has a 50 day moving average price of $250.13 and a 200 day moving average price of $247.50. The company has a market cap of $77.98 billion, a PE ratio of 25.70, a P/E/G ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the company posted $2.41 earnings per share. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. Research analysts anticipate that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s payout ratio is 59.17%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ITW shares. Stifel Nicolaus lowered their price target on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Barclays lowered their price target on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Jefferies Financial Group lowered their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. lifted their target price on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $255.22.

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.