Intech Investment Management LLC Raises Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Intech Investment Management LLC lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 27.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 26,522 shares of the industrial products company’s stock after acquiring an additional 5,716 shares during the period. Intech Investment Management LLC’s holdings in Illinois Tool Works were worth $6,285,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ITW. Steele Capital Management Inc. lifted its holdings in shares of Illinois Tool Works by 4.9% during the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 40 shares during the period. EP Wealth Advisors LLC lifted its holdings in shares of Illinois Tool Works by 1.0% during the first quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock worth $1,178,000 after purchasing an additional 42 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Illinois Tool Works by 3.0% during the first quarter. Proficio Capital Partners LLC now owns 1,490 shares of the industrial products company’s stock worth $400,000 after purchasing an additional 44 shares during the period. Carson Advisory Inc. lifted its holdings in shares of Illinois Tool Works by 3.0% during the first quarter. Carson Advisory Inc. now owns 1,552 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 45 shares during the period. Finally, Trifecta Capital Advisors LLC lifted its holdings in shares of Illinois Tool Works by 0.8% during the first quarter. Trifecta Capital Advisors LLC now owns 5,948 shares of the industrial products company’s stock worth $1,596,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 1.4 %

Illinois Tool Works stock opened at $254.32 on Friday. The stock has a market capitalization of $75.89 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 3.93 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $217.50 and a 12 month high of $271.15. The business has a 50 day simple moving average of $246.24 and a 200-day simple moving average of $248.22. 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 posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.41 earnings per share. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.36%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, September 30th. Illinois Tool Works’s payout ratio is presently 59.17%.

Analyst Ratings Changes

A number of brokerages have issued reports on ITW. Barclays decreased their price target 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. Stifel Nicolaus decreased their price target on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Argus raised Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, Wells Fargo & Company boosted their price target on Illinois Tool Works from $230.00 to $236.00 and gave the company an “underweight” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $250.22.

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.