It is currently trading at $155.51 which is marginally higher than $148.07, the stock’s 50 day moving average and which is just a bit higher than the 200 day moving average of $142.44. The 50 day moving average moved up $7.44 whereas the 200 day moving average was up $13.07 or +9.18%. Trading volume for Illinois Tool Works Inc. was 1,478K by the end of trading on Tuesday. Overall, volume was down 15.05% under the stocks normal daily volume.
Investors are feeling more bullish on Illinois Tool Works Inc. of late if you watch the decrease in short interest. The stock experienced a fall in short interest of -0.29% as of the latest report on September 29, 2017. Short interest decreased from 6,100,656 to 6,083,164 over that period. With short interest at 6,083,164 and short average daily volume at 865,433, days to cover is 7.0 and the percentage of shorted shares is 0.02% as of September 29.
Additionally, here are a few investment firms who have increased or decreased their stake in (ITW). Alpha Windward LLC downsized its stake by selling 112 shares a decrease of 4.8%. Alpha Windward LLC owns 2,227 shares worth $330,000. The value of the position overall is down by 1.5%. As of the end of the quarter Mycio Wealth Partners, LLC had sold 20 shares trimming its holdings by 0.7%. The value in dollars increased from $385,000 to $394,000 a change of 2.3% for the reporting period.
Cutter & CO Brokerage, Inc. trimmed its ownership by shedding 143 shares a decrease of 1.6% in the quarter. Cutter & CO Brokerage, Inc. now controls 9,032 shares with a value of $1,336,000. The total value of its holdings increased 1.7%. Robeco Institutional Asset Management B.v. cut its investment by shedding 6,354 shares a decrease of 1.2% as of 09/30/2017. Robeco Institutional Asset Management B.v. claims 524,639 shares valued at $77,630,000. The total value of its holdings increased 2.1%.
July 11 investment analysts at Morgan Stanley maintained a stock rating of “Equal-Weight” and moved up the price target to $140.00 from $104.00. On July 25 Morgan Stanley held the stock rating at “Equal-Weight” and lowered the price target from $140.00 to $136.00.
On August 17 the stock rating was downgraded from “Neutral” to “Underweight” in a statement from JP Morgan. October 2 investment analysts at Morgan Stanley held the company rating at “Equal-Weight” but moved up the price target to $147.00 from $136.00.
On October 10 the company was upgraded to “Buy” from “Underweight” and a price target of $171.00 was set in a report issued by JP Morgan.
In the market the company is trading up from yesterday’s close of 155.03. Additionally the company announced a dividend for shareholders which was paid on Tuesday October 10th, 2017. The dividend was $0.780 per share for the quarter or $3.12 annualized. The dividend yield was $2.03. The ex-dividend date was Thursday the 28th of September 2017.
The most current P/E ratio is 25.16 and the market value is 53.52B. In the last earnings report the EPS was $6.18 and is estimated to be $6.46 for the current year with 344,149,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $1.59 with next year’s EPS projected to be $7.12.
Illinois Tool Works Inc., launched on June 19, 1961, is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products, and Specialty Products. As of December 31, 2016, the Company had 85 divisions in 57 countries..