Summit Financial Wealth Advisors Lowers stake in Illinois Tool Works (ITW)

Illinois Tool Works (ITW) : Summit Financial Wealth Advisors reduced its stake in Illinois Tool Works by 11.82% during the most recent quarter end. The investment management company now holds a total of 38,422 shares of Illinois Tool Works which is valued at $4,582,592 after selling 5,152 shares in Illinois Tool Works , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Illinois Tool Works makes up approximately 2.00% of Summit Financial Wealth Advisors’s portfolio.

Other Hedge Funds, Including , Eqis Capital Management boosted its stake in ITW in the latest quarter, The investment management firm added 278 additional shares and now holds a total of 2,251 shares of Illinois Tool Works which is valued at $268,477. Illinois Tool Works makes up approx 0.02% of Eqis Capital Management’s portfolio.Cullinan Associates Inc reduced its stake in ITW by selling 3,520 shares or 10.01% in the most recent quarter. The Hedge Fund company now holds 31,630 shares of ITW which is valued at $3,772,510. Illinois Tool Works makes up approx 0.32% of Cullinan Associates Inc’s portfolio.Harbour Capital Advisors reduced its stake in ITW by selling 750 shares or 16.91% in the most recent quarter. The Hedge Fund company now holds 3,684 shares of ITW which is valued at $439,391. Illinois Tool Works makes up approx 0.24% of Harbour Capital Advisors’s portfolio.

Illinois Tool Works closed down -0.83 points or -0.69% at $119.06 with 17,24,092 shares getting traded on Tuesday. Post opening the session at $119.61, the shares hit an intraday low of $118.69 and an intraday high of $120.12 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

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 .

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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