Fenimore Asset Management Inc Lowers stake in Illinois Tool Works (ITW)

Illinois Tool Works (ITW) : Fenimore Asset Management Inc reduced its stake in Illinois Tool Works by 0.19% during the most recent quarter end. The investment management company now holds a total of 514,622 shares of Illinois Tool Works which is valued at $56,912,047 after selling 990 shares in Illinois Tool Works , the firm said in a disclosure report filed with the SEC on Jul 13, 2016.Illinois Tool Works makes up approximately 2.73% of Fenimore Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Capstone Asset Management Co reduced its stake in ITW by selling 134 shares or 0.35% in the most recent quarter. The Hedge Fund company now holds 37,780 shares of ITW which is valued at $4,178,090. Illinois Tool Works makes up approx 0.12% of Capstone Asset Management Co’s portfolio.British Columbia Investment Management Corp reduced its stake in ITW by selling 7,079 shares or 3.22% in the most recent quarter. The Hedge Fund company now holds 212,528 shares of ITW which is valued at $23,029,534. Illinois Tool Works makes up approx 0.20% of British Columbia Investment Management Corp’s portfolio. Perkins Coie Trust Co sold out all of its stake in ITW during the most recent quarter. The investment firm sold 43 shares of ITW which is valued $4,659.Howland Capital Management reduced its stake in ITW by selling 37 shares or 0.24% in the most recent quarter. The Hedge Fund company now holds 15,127 shares of ITW which is valued at $1,639,162. Illinois Tool Works makes up approx 0.15% of Howland Capital Management’s portfolio.

Illinois Tool Works closed down -0.56 points or -0.50% at $110.66 with 9,19,876 shares getting traded on Monday. Post opening the session at $111.11, the shares hit an intraday low of $110.2801 and an intraday high of $111.28 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 $1.29 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.

Many Wall Street Analysts have commented on Illinois Tool Works. Robert W. Baird Downgraded Illinois Tool Works on Jun 23, 2016 to ” Neutral”, Price Target of the shares are set at $108.

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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