Autus Asset Management Lowers stake in Illinois Tool Works (ITW)

Illinois Tool Works (ITW) : Autus Asset Management reduced its stake in Illinois Tool Works by 2.65% during the most recent quarter end. The investment management company now holds a total of 54,651 shares of Illinois Tool Works which is valued at $6,496,911 after selling 1,490 shares in Illinois Tool Works , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Illinois Tool Works makes up approximately 1.44% of Autus Asset Management’s portfolio.

Other Hedge Funds, Including , Roberts Glore Co Inc Il reduced its stake in ITW by selling 1,146 shares or 5.5% in the most recent quarter. The Hedge Fund company now holds 19,703 shares of ITW which is valued at $2,273,726. Illinois Tool Works makes up approx 1.67% of Roberts Glore Co Inc Il’s portfolio.Pineno Levin Ford Asset Management boosted its stake in ITW in the latest quarter, The investment management firm added 69 additional shares and now holds a total of 2,444 shares of Illinois Tool Works which is valued at $280,034. Illinois Tool Works makes up approx 0.14% of Pineno Levin Ford Asset Management’s portfolio.

Illinois Tool Works opened for trading at $118.85 and hit $119.84 on the upside on Monday, eventually ending the session at $119.28, with a gain of 0.33% or 0.39 points. The heightened volatility saw the trading volume jump to 9,67,574 shares. Company has a market cap of $42,340 M.

On the company’s financial health, Illinois Tool Works reported $1.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $1.40. The company had revenue of $3431.00 million for the quarter, compared to analysts expectations of $3413.93 million. The company’s revenue was down -.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.30 EPS.

Many Wall Street Analysts have commented on Illinois Tool Works. Company shares were Reiterated by RBC Capital Mkts on Jul 21, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 104 from a previous price target of $101 .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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