Tweedy Browne Co Lowers stake in Illinois Tool Works (ITW)

Illinois Tool Works (ITW) : Tweedy Browne Co reduced its stake in Illinois Tool Works by 35.66% during the most recent quarter end. The investment management company now holds a total of 226,655 shares of Illinois Tool Works which is valued at $26,947,013 after selling 125,599 shares in Illinois Tool Works , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Illinois Tool Works makes up approximately 0.73% of Tweedy Browne Co’s portfolio.

Other Hedge Funds, Including , Banque Pictet Cie Sa reduced its stake in ITW by selling 7,167 shares or 14.11% in the most recent quarter. The Hedge Fund company now holds 43,636 shares of ITW which is valued at $5,187,884. Illinois Tool Works makes up approx 0.13% of Banque Pictet Cie Sa’s portfolio.Integrated Wealth Management reduced its stake in ITW by selling 72 shares or 1.21% in the most recent quarter. The Hedge Fund company now holds 5,900 shares of ITW which is valued at $679,385. Illinois Tool Works makes up approx 0.26% of Integrated Wealth Management’s portfolio.Braver Wealth Management reduced its stake in ITW by selling 30,948 shares or 75.81% in the most recent quarter. The Hedge Fund company now holds 9,876 shares of ITW which is valued at $1,092,187. Illinois Tool Works makes up approx 0.18% of Braver Wealth Management’s portfolio.Creative Planning boosted its stake in ITW in the latest quarter, The investment management firm added 1,289 additional shares and now holds a total of 26,436 shares of Illinois Tool Works which is valued at $2,923,557. Illinois Tool Works makes up approx 0.02% of Creative Planning’s portfolio.

Illinois Tool Works opened for trading at $118.68 and hit $119.84 on the upside on Friday, eventually ending the session at $119.64, with a gain of 0.55% or 0.66 points. The heightened volatility saw the trading volume jump to 13,14,858 shares. Company has a market cap of $42,467 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.

Investors should note that on Aug 5, 2016, Illinois Tool Works announced a cash dividend of $0.6500. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 6, 2016.

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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