Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1,542.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,240 shares of the industrial products company’s stock after acquiring an additional 5,860 shares during the period. Exchange Traded Concepts LLC’s holdings in Illinois Tool Works were worth $1,635,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. PEAK6 Investments LLC increased its stake in shares of 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 purchasing an additional 140 shares during the period. GSA Capital Partners LLP bought a new position in Illinois Tool Works in the 1st quarter valued at about $1,147,000. Norden Group LLC increased its stake in Illinois Tool Works by 1,889.1% during the 1st quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock valued at $7,103,000 after buying an additional 25,144 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Illinois Tool Works by 78.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock worth $9,907,000 after buying an additional 16,216 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Illinois Tool Works by 7.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock worth $37,999,000 after acquiring an additional 9,825 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $261.47 on Wednesday. The stock has a market cap of $78.02 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 4.10 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 company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The business has a fifty day simple moving average of $251.04 and a 200-day simple moving average of $247.41.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.41 earnings per share. On average, sell-side 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 announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $1.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.29%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s payout ratio is 59.17%.

Analyst Upgrades and Downgrades

ITW has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Evercore ISI lowered 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 note on Monday, August 19th. Barclays cut 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $255.22.

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.