Peachtree Investment Advisors Lowers stake in Illinois Tool Works (ITW)

Illinois Tool Works (ITW) : Peachtree Investment Advisors reduced its stake in Illinois Tool Works by 1.22% during the most recent quarter end. The investment management company now holds a total of 17,795 shares of Illinois Tool Works which is valued at $1,967,949 after selling 220 shares in Illinois Tool Works , the firm said in a disclosure report filed with the SEC on Jul 11, 2016.Illinois Tool Works makes up approximately 1.96% of Peachtree Investment Advisors’s portfolio.

Other Hedge Funds, Including , Quotient Investors boosted its stake in ITW in the latest quarter, The investment management firm added 140 additional shares and now holds a total of 9,400 shares of Illinois Tool Works which is valued at $1,039,546. Illinois Tool Works makes up approx 0.48% of Quotient Investors’s portfolio.Laurel Wealth Advisors reduced its stake in ITW by selling 216 shares or 5.58% in the most recent quarter. The Hedge Fund company now holds 3,656 shares of ITW which is valued at $396,164. Illinois Tool Works makes up approx 0.19% of Laurel Wealth Advisors’s portfolio.M. Kraus Co reduced its stake in ITW by selling 245 shares or 0.52% in the most recent quarter. The Hedge Fund company now holds 47,206 shares of ITW which is valued at $5,115,242. Illinois Tool Works makes up approx 2.99% of M. Kraus Co’s portfolio.

Illinois Tool Works opened for trading at $110.53 and hit $110.78 on the upside on Wednesday, eventually ending the session at $110.59, with a gain of 0.52% or 0.57 points. The heightened volatility saw the trading volume jump to 17,08,897 shares. Company has a market cap of $39,743 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.

Many Wall Street Analysts have commented on Illinois Tool Works. Robert W. Baird Downgraded Illinois Tool Works on Jun 23, 2016 to ” Neutral”, Price Target of the shares are set at $108.

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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