Hartline Investment Corp Lowers stake in Illinois Tool Works (ITW)

Illinois Tool Works (ITW) : Hartline Investment Corp reduced its stake in Illinois Tool Works by 26.26% during the most recent quarter end. The investment management company now holds a total of 50,669 shares of Illinois Tool Works which is valued at $5.2 Million after selling 18,040 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 1.93% of Hartline Investment Corp’s portfolio.

Other Hedge Funds, Including , Grandfield Dodd boosted its stake in ITW in the latest quarter, The investment management firm added 8,087 additional shares and now holds a total of 190,335 shares of Illinois Tool Works which is valued at $19.8 Million. Illinois Tool Works makes up approx 2.88% of Grandfield Dodd’s portfolio.Swiss National Bank boosted its stake in ITW in the latest quarter, The investment management firm added 251,300 additional shares and now holds a total of 850,006 shares of Illinois Tool Works which is valued at $88.6 Million. Illinois Tool Works makes up approx 0.16% of Swiss National Bank’s portfolio.Hall Laurie J Trustee boosted its stake in ITW in the latest quarter, The investment management firm added 121,289 additional shares and now holds a total of 124,430 shares of Illinois Tool Works which is valued at $13 Million. Illinois Tool Works makes up approx 7.85% of Hall Laurie J Trustee’s portfolio.

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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