Brookstone Capital Management Has $1.30 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Brookstone Capital Management cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,957 shares of the industrial products company’s stock after selling 148 shares during the period. Brookstone Capital Management’s holdings in Illinois Tool Works were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ITW. PEAK6 Investments LLC boosted its stake in Illinois Tool Works by 17.5% in the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 140 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Illinois Tool Works in the 1st quarter worth $1,147,000. Norden Group LLC grew its stake in shares of Illinois Tool Works by 1,889.1% during the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after purchasing an additional 25,144 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in Illinois Tool Works by 78.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock valued at $9,907,000 after purchasing an additional 16,216 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Illinois Tool Works by 7.3% in the third quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock valued at $37,999,000 after buying an additional 9,825 shares during the period. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ITW. Barclays cut 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. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. upped their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Evercore ISI reduced their target price 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. Finally, Jefferies Financial Group lowered their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $255.22.

Illinois Tool Works Stock Up 1.5 %

ITW stock opened at $260.59 on Friday. 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 stock has a market capitalization of $77.37 billion, a P/E ratio of 25.55, a P/E/G ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The business has a 50-day moving average of $250.13 and a 200-day moving average of $247.77.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. 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 prior year, the firm posted $2.41 EPS. The business’s revenue was down 1.2% on a year-over-year basis. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $1.50 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Monday, September 30th. Illinois Tool Works’s payout ratio is presently 58.82%.

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.