Oppenheimer & Co. Inc. Has $3.91 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Oppenheimer & Co. Inc. grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 29.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,489 shares of the industrial products company’s stock after buying an additional 3,732 shares during the period. Oppenheimer & Co. Inc.’s holdings in Illinois Tool Works were worth $3,907,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ITW. Frazier Financial Advisors LLC bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $26,000. Security National Bank bought a new position in Illinois Tool Works in the fourth quarter valued at approximately $28,000. Christopher J. Hasenberg Inc acquired a new position in shares of Illinois Tool Works in the first quarter valued at approximately $32,000. Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works during the first quarter worth $34,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Illinois Tool Works during the second quarter worth $30,000. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Barclays decreased their price objective on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company boosted their target price on Illinois Tool Works from $230.00 to $236.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group decreased their price target 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, Evercore ISI cut their price objective on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $250.22.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $251.75 on Friday. The company has a fifty day moving average price of $244.54 and a two-hundred day moving average price of $248.41. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The stock has a market cap of $74.74 billion, a P/E ratio of 24.83, a P/E/G ratio of 3.93 and a beta of 1.10. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92.

Illinois Tool Works (NYSE:ITW) last issued its earnings results 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 business had revenue of $4.03 billion during the quarter, compared to the consensus estimate 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 last year, the business posted $2.41 EPS. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.50 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.00 annualized dividend and a yield of 2.38%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 55.23%.

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.