Angeles Wealth Management LLC Boosts Stake in Illinois Tool Works Inc. (NYSE:ITW)

Angeles Wealth Management LLC increased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 61.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,370 shares of the industrial products company’s stock after purchasing an additional 524 shares during the quarter. Angeles Wealth Management LLC’s holdings in Illinois Tool Works were worth $325,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC bought a new stake in Illinois Tool Works in the 4th quarter worth $26,000. Security National Bank bought a new stake in Illinois Tool Works in the 4th quarter worth $28,000. Christopher J. Hasenberg Inc bought a new stake in Illinois Tool Works in the 1st quarter worth $32,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works in the 1st quarter worth $34,000. Finally, Financial Connections Group Inc. bought a new stake in Illinois Tool Works in the 2nd quarter worth $30,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.3 %

NYSE:ITW opened at $246.87 on Thursday. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. The company’s 50-day simple moving average is $243.92 and its 200 day simple moving average is $248.56. The firm has a market capitalization of $73.67 billion, a P/E ratio of 24.35, a PEG ratio of 3.88 and a beta of 1.10.

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

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.43%. Illinois Tool Works’s payout ratio is 59.17%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ITW shares. Jefferies Financial Group cut their target price on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock 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 research note on Thursday, August 1st. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI cut their target price on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $250.22.

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.