Argus Investors’ Counsel Lowers stake in Illinois Tool Works (ITW)

Illinois Tool Works (ITW) : Argus Investors’ Counsel reduced its stake in Illinois Tool Works by 10.33% during the most recent quarter end. The investment management company now holds a total of 48,720 shares of Illinois Tool Works which is valued at $5,092,214 after selling 5,615 shares in Illinois Tool Works , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Illinois Tool Works makes up approximately 2.11% of Argus Investors’ Counsel’s portfolio.

Illinois Tool Works opened for trading at $104.24 and hit $105.11 on the upside on Monday, eventually ending the session at $104.97, with a gain of 0.43% or 0.45 points. The heightened volatility saw the trading volume jump to 13,89,550 shares. Company has a market cap of $38,185 M.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in ITW during the most recent quarter. The investment firm sold 185,187 shares of ITW which is valued $19,381,671.Horizon Kinetics reduced its stake in ITW by selling 1,419 shares or 22.12% in the most recent quarter. The Hedge Fund company now holds 4,997 shares of ITW which is valued at $524,085. Illinois Tool Works makes up approx 0.01% of Horizon Kinetics’s portfolio.Howland Capital Management reduced its stake in ITW by selling 571 shares or 3.63% in the most recent quarter. The Hedge Fund company now holds 15,164 shares of ITW which is valued at $1,590,400. Illinois Tool Works makes up approx 0.16% of Howland Capital Management’s portfolio.

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.

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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