Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Fmr LLC

Fmr LLC raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 998,459 shares of the industrial products company’s stock after acquiring an additional 39,445 shares during the period. Fmr LLC’s holdings in Illinois Tool Works were worth $261,666,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Cetera Investment Advisers boosted its position in shares of Illinois Tool Works by 284.1% in the first quarter. Cetera Investment Advisers now owns 56,343 shares of the industrial products company’s stock worth $15,118,000 after acquiring an additional 41,676 shares during the last quarter. Cetera Advisors LLC grew its stake in shares of Illinois Tool Works by 57.3% during the 1st quarter. Cetera Advisors LLC now owns 14,475 shares of the industrial products company’s stock valued at $3,884,000 after buying an additional 5,274 shares during the period. Sage Capital Advisors llc increased its holdings in shares of Illinois Tool Works by 0.7% during the 2nd quarter. Sage Capital Advisors llc now owns 20,926 shares of the industrial products company’s stock worth $4,959,000 after buying an additional 137 shares during the last quarter. Olistico Wealth LLC purchased a new position in shares of Illinois Tool Works in the 2nd quarter worth $47,000. Finally, Kingswood Wealth Advisors LLC boosted its holdings in Illinois Tool Works by 39.0% in the second quarter. Kingswood Wealth Advisors LLC now owns 3,372 shares of the industrial products company’s stock valued at $799,000 after acquiring an additional 946 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays increased their price target on Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $257.30.

Illinois Tool Works Stock Up 0.5 %

Shares of Illinois Tool Works stock opened at $277.52 on Monday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The business has a 50-day moving average of $264.35 and a 200-day moving average of $250.78. The company has a market capitalization of $81.95 billion, a PE ratio of 24.01, a P/E/G ratio of 4.30 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.55 EPS. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.16%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.