Private Advisor Group LLC Boosts Stake in Illinois Tool Works Inc. (NYSE:ITW)

Private Advisor Group LLC lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,762 shares of the industrial products company’s stock after purchasing an additional 1,513 shares during the period. Private Advisor Group LLC’s holdings in Illinois Tool Works were worth $11,731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ITW. Brookstone Capital Management raised its position in Illinois Tool Works by 11.0% during the first quarter. Brookstone Capital Management now owns 4,027 shares of the industrial products company’s stock worth $1,081,000 after acquiring an additional 400 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Illinois Tool Works by 13.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 78,992 shares of the industrial products company’s stock valued at $21,196,000 after buying an additional 9,275 shares in the last quarter. Kathmere Capital Management LLC lifted its stake in Illinois Tool Works by 10.1% in the 1st quarter. Kathmere Capital Management LLC now owns 3,698 shares of the industrial products company’s stock valued at $992,000 after buying an additional 340 shares in the last quarter. Financial Management Professionals Inc. increased its stake in Illinois Tool Works by 132.0% during the 1st quarter. Financial Management Professionals Inc. now owns 174 shares of the industrial products company’s stock worth $47,000 after buying an additional 99 shares in the last quarter. Finally, Independence Bank of Kentucky raised its holdings in shares of Illinois Tool Works by 30.9% during the first quarter. Independence Bank of Kentucky now owns 5,953 shares of the industrial products company’s stock valued at $1,597,000 after acquiring an additional 1,405 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ITW shares. JPMorgan Chase & Co. lifted their price target on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Jefferies Financial Group dropped their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Finally, Barclays cut their price objective on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $255.44.

Illinois Tool Works Price Performance

ITW stock opened at $255.53 on Friday. Illinois Tool Works Inc. has a 52-week low of $219.01 and a 52-week high of $271.15. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The stock has a market cap of $76.25 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The business has a fifty day moving average of $253.53 and a two-hundred day moving average of $247.33.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.09. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. Illinois Tool Works’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.41 EPS. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio (DPR) is 59.17%.

Illinois Tool Works Profile

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.