Ramsay Stattman Vela Price Lowers stake in Illinois Tool Works (ITW)

Illinois Tool Works (ITW) : Ramsay Stattman Vela Price reduced its stake in Illinois Tool Works by 3.53% during the most recent quarter end. The investment management company now holds a total of 65,115 shares of Illinois Tool Works which is valued at $6.7 Million after selling 2,380 shares in Illinois Tool Works , the firm said in a disclosure report filed with the SEC on May 11, 2016.Illinois Tool Works makes up approximately 3.47% of Ramsay Stattman Vela Price’s portfolio.

Other Hedge Funds, Including , First Personal Financial Services reduced its stake in ITW by selling 90 shares or 47.37% in the most recent quarter. The Hedge Fund company now holds 100 shares of ITW which is valued at $10,298. Illinois Tool Works makes up approx 0.01% of First Personal Financial Services’s portfolio.Manufacturers Life Insurance Company The boosted its stake in ITW in the latest quarter, The investment management firm added 15,981 additional shares and now holds a total of 344,781 shares of Illinois Tool Works which is valued at $35.5 Million. Illinois Tool Works makes up approx 0.06% of Manufacturers Life Insurance Company The’s portfolio. Allegis Investment Advisors sold out all of its stake in ITW during the most recent quarter. The investment firm sold 96 shares of ITW which is valued $9,886.Global X Management Co boosted its stake in ITW in the latest quarter, The investment management firm added 108 additional shares and now holds a total of 122 shares of Illinois Tool Works which is valued at $12,711.

Illinois Tool Works opened for trading at $103.26 and hit $104.56 on the upside on Monday, eventually ending the session at $104.3, with a gain of 1.28% or 1.32 points. The heightened volatility saw the trading volume jump to 11,92,350 shares. Company has a market cap of $37,482 M.

On the company’s financial health, Illinois Tool Works reported $1.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $1.26. The company had revenue of $3274.00 million for the quarter, compared to analysts expectations of $3252.42 million. The company’s revenue was down -2.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.21 EPS.

Investors should note that on May 6, 2016, Illinois Tool Works announced a cash dividend of $0.5500. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 8, 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.

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