William B. Walkup & Associates Inc. Invests $707,000 in Illinois Tool Works Inc. (NYSE:ITW)

William B. Walkup & Associates Inc. purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,985 shares of the industrial products company’s stock, valued at approximately $707,000.

A number of other large investors have also added to or reduced their stakes in ITW. Steele Capital Management Inc. boosted 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 boosted 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 boosted 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. boosted 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 boosted 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. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on ITW shares. 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 report on Thursday, July 11th. Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. lifted their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Barclays reduced their target price on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research note on Wednesday, July 31st. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $250.22.

Illinois Tool Works Trading Up 0.8 %

NYSE:ITW opened at $263.97 on Monday. Illinois Tool Works Inc. has a 12 month low of $217.50 and a 12 month high of $271.15. The firm has a market cap of $78.77 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 4.09 and a beta of 1.10. 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 company’s 50 day moving average is $247.31 and its 200-day moving average is $248.06.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results 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. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the firm posted $2.41 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $1.50 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 2.27%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.17%.

Illinois Tool Works Company 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.