Miles Capital Lowers stake in Illinois Tool Works (ITW)

Illinois Tool Works (ITW) : Miles Capital reduced its stake in Illinois Tool Works by 0.62% during the most recent quarter end. The investment management company now holds a total of 14,180 shares of Illinois Tool Works which is valued at $1.5 Million after selling 89 shares in Illinois Tool Works , the firm said in a disclosure report filed with the SEC on May 12, 2016.Illinois Tool Works makes up approximately 0.98% of Miles Capital’s portfolio.

Other Hedge Funds, Including , Victory Capital Management Inc reduced its stake in ITW by selling 2,441 shares or 15.69% in the most recent quarter. The Hedge Fund company now holds 13,114 shares of ITW which is valued at $1.4 Million. Illinois Tool Works makes up approx 0.01% of Victory Capital Management Inc’s portfolio.Cannell Peter B Co Inc reduced its stake in ITW by selling 380 shares or 0.63% in the most recent quarter. The Hedge Fund company now holds 59,598 shares of ITW which is valued at $6.1 Million. Illinois Tool Works makes up approx 0.22% of Cannell Peter B Co Inc’s portfolio.Kcm Investment Advisors boosted its stake in ITW in the latest quarter, The investment management firm added 621 additional shares and now holds a total of 8,108 shares of Illinois Tool Works which is valued at $834,962. Illinois Tool Works makes up approx 0.06% of Kcm Investment Advisors’s portfolio.Ballentine Partners reduced its stake in ITW by selling 24 shares or 0.22% in the most recent quarter. The Hedge Fund company now holds 10,888 shares of ITW which is valued at $1.1 Million. Illinois Tool Works makes up approx 0.10% of Ballentine Partners’s portfolio. Lmr Partners Llp added ITW to its portfolio by purchasing 4,793 company shares during the most recent quarter which is valued at $499,383. Illinois Tool Works makes up approx 0.08% of Lmr Partners Llp’s portfolio.

Illinois Tool Works opened for trading at $103.34 and hit $103.784 on the upside on Friday, eventually ending the session at $103.14, with a gain of 0.37% or 0.38 points. The heightened volatility saw the trading volume jump to 12,69,221 shares. Company has a market cap of $37,065 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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