O’shaughnessy Asset Management Lowers stake in Illinois Tool Works (ITW)

Illinois Tool Works (ITW) : O’shaughnessy Asset Management reduced its stake in Illinois Tool Works by 0.24% during the most recent quarter end. The investment management company now holds a total of 1,202,099 shares of Illinois Tool Works which is valued at $123.8 Million after selling 2,944 shares in Illinois Tool Works , the firm said in a disclosure report filed with the SEC on May 13, 2016.Illinois Tool Works makes up approximately 3.22% of O’shaughnessy Asset Management’s portfolio.

Other Hedge Funds, Including , Susquehanna International Group Llp reduced its stake in ITW by selling 80,319 shares or 50.17% in the most recent quarter. The Hedge Fund company now holds 79,765 shares of ITW which is valued at $8.2 Million. Illinois Tool Works makes up approx 0.03% of Susquehanna International Group Llp’s portfolio.Payden Rygel reduced its stake in ITW by selling 280 shares or 41.18% in the most recent quarter. The Hedge Fund company now holds 400 shares of ITW which is valued at $41,676. Illinois Tool Works makes up approx 0.01% of Payden Rygel’s portfolio.Sandy Spring Bank reduced its stake in ITW by selling 715 shares or 29.72% in the most recent quarter. The Hedge Fund company now holds 1,691 shares of ITW which is valued at $176,185. Illinois Tool Works makes up approx 0.02% of Sandy Spring Bank’s portfolio. First Mercantile Trust Co sold out all of its stake in ITW during the most recent quarter. The investment firm sold 300 shares of ITW which is valued $31,356.

Illinois Tool Works opened for trading at $105.09 and hit $105.9 on the upside on Wednesday, eventually ending the session at $105.14, with a gain of 0.22% or 0.23 points. The heightened volatility saw the trading volume jump to 12,86,552 shares. Company has a market cap of $37,784 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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