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

Illinois Tool Works (ITW) : Aimz Investment Advisors reduced its stake in Illinois Tool Works by 2.31% during the most recent quarter end. The investment management company now holds a total of 12,614 shares of Illinois Tool Works which is valued at $1,499,678 after selling 298 shares in Illinois Tool Works , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Illinois Tool Works makes up approximately 1.33% of Aimz Investment Advisors’s portfolio.

Other Hedge Funds, Including , First Allied Advisory Services reduced its stake in ITW by selling 1,375 shares or 27.81% in the most recent quarter. The Hedge Fund company now holds 3,570 shares of ITW which is valued at $424,437. Illinois Tool Works makes up approx 0.02% of First Allied Advisory Services’s portfolio.Burney Co boosted its stake in ITW in the latest quarter, The investment management firm added 969 additional shares and now holds a total of 18,023 shares of Illinois Tool Works which is valued at $2,142,754. Illinois Tool Works makes up approx 0.15% of Burney Co’s portfolio.Welch Forbes reduced its stake in ITW by selling 22 shares or 0.1% in the most recent quarter. The Hedge Fund company now holds 22,429 shares of ITW which is valued at $2,582,699. Illinois Tool Works makes up approx 0.08% of Welch Forbes’s portfolio. Old Mutual Global Investors (uk) Ltd. sold out all of its stake in ITW during the most recent quarter. The investment firm sold 15,375 shares of ITW which is valued $1,761,668.

Illinois Tool Works closed down -0.16 points or -0.13% at $119.66 with 1,062,590 shares getting traded on Wednesday. Post opening the session at $119.5, the shares hit an intraday low of $119.04 and an intraday high of $119.77 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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