Epoch Investment Partners Inc. Boosts Stake in Illinois Tool Works Inc. (NYSE:ITW)

Epoch Investment Partners Inc. grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,445 shares of the industrial products company’s stock after purchasing an additional 124 shares during the period. Epoch Investment Partners Inc.’s holdings in Illinois Tool Works were worth $4,845,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Security National Bank acquired a new position in Illinois Tool Works in the fourth quarter valued at about $28,000. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at approximately $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter worth approximately $34,000. General Partner Inc. purchased a new position in shares of Illinois Tool Works during the 1st quarter worth approximately $35,000. Finally, Rise Advisors LLC acquired a new position in Illinois Tool Works during the first quarter worth $35,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ITW has been the topic of several research analyst reports. Evercore ISI cut their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Barclays reduced their price target on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 31st. 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 report on Thursday, July 11th. JPMorgan Chase & Co. upped their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus decreased their price target on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $250.22.

Illinois Tool Works Trading Up 0.9 %

NYSE ITW opened at $256.72 on Tuesday. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15. The firm has a 50 day moving average of $246.44 and a two-hundred day moving average of $248.10. 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 capitalization of $76.61 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 3.93 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the firm posted $2.41 earnings per share. The company’s revenue was down 1.2% compared to the same quarter last year. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $1.50 dividend. The ex-dividend date is Monday, September 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.34%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio is presently 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.