Long Road Investment Counsel Lowers stake in Illinois Tool Works (ITW)

Illinois Tool Works (ITW) : Long Road Investment Counsel reduced its stake in Illinois Tool Works by 0.21% during the most recent quarter end. The investment management company now holds a total of 50,838 shares of Illinois Tool Works which is valued at $5.2 Million after selling 105 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 4.19% of Long Road Investment Counsel’s portfolio.

Other Hedge Funds, Including , Renaissance Technologies added ITW to its portfolio by purchasing 537,000 company shares during the most recent quarter which is valued at $55.3 Million. Illinois Tool Works makes up approx 0.11% of Renaissance Technologies’s portfolio.Diamond Hill Capital Management Inc reduced its stake in ITW by selling 166,342 shares or 8.25% in the most recent quarter. The Hedge Fund company now holds 1,851,106 shares of ITW which is valued at $190.6 Million. Illinois Tool Works makes up approx 1.23% of Diamond Hill Capital Management Inc’s portfolio.Roof Eidam Maycockadv boosted its stake in ITW in the latest quarter, The investment management firm added 385 additional shares and now holds a total of 9,285 shares of Illinois Tool Works which is valued at $967,404. Illinois Tool Works makes up approx 0.68% of Roof Eidam Maycockadv’s portfolio.Spectrum Management Group boosted its stake in ITW in the latest quarter, The investment management firm added 435 additional shares and now holds a total of 4,040 shares of Illinois Tool Works which is valued at $422,261. Illinois Tool Works makes up approx 0.16% of Spectrum Management Group’s portfolio.Greatmark Investment Partners reduced its stake in ITW by selling 620 shares or 1.13% in the most recent quarter. The Hedge Fund company now holds 54,444 shares of ITW which is valued at $5.7 Million. Illinois Tool Works makes up approx 2.56% of Greatmark Investment Partners’s portfolio.

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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