Pensionfund Sabic Lowers stake in Illinois Tool Works (ITW)

Illinois Tool Works (ITW) : Pensionfund Sabic reduced its stake in Illinois Tool Works by 21.67% during the most recent quarter end. The investment management company now holds a total of 18,800 shares of Illinois Tool Works which is valued at $1.9 Million after selling 5,200 shares in Illinois Tool Works according to a report filed by the company on Apr 4, 2016 with the SEC.Illinois Tool Works makes up approximately 0.59% of Pensionfund Sabic’s portfolio.

Other Hedge Funds, Including , Pensionfund Dsm Netherlands reduced its stake in ITW by selling 10,500 shares or 21.0% in the most recent quarter. The Hedge Fund company now holds 39,500 shares of ITW which is valued at $4.1 Million. Illinois Tool Works makes up approx 0.56% of Pensionfund Dsm Netherlands’s portfolio.

On the company’s financial health, Illinois Tool Works reported $1.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jan 27, 2016. Analyst had a consensus of $1.21. The company had revenue of $3275.00 million for the quarter, compared to analysts expectations of $3241.90 million. The company’s revenue was down -6.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.18 EPS.

Many Wall Street Analysts have commented on Illinois Tool Works. Illinois Tool Works was Resumed by Morgan Stanley to “Equal-Weight” on Jan 13, 2016. Barclays Initiated Illinois Tool Works on Jan 11, 2016 to “Equal Weight”, Price Target of the shares are set at $92.

Illinois Tool Works closed down -0.12 points or -0.12% at $103.09 with 10,32,828 shares getting traded on Monday. Post opening the session at $103.37, the shares hit an intraday low of $103.08 and an intraday high of $104.35 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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