Swedbank AB Buys 1,768 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Swedbank AB grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,015 shares of the industrial products company’s stock after purchasing an additional 1,768 shares during the period. Swedbank AB’s holdings in Illinois Tool Works were worth $23,066,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Birch Capital Management LLC boosted its stake in shares of Illinois Tool Works by 2.0% during the 3rd quarter. Birch Capital Management LLC now owns 9,780 shares of the industrial products company’s stock valued at $2,563,000 after purchasing an additional 194 shares in the last quarter. Occidental Asset Management LLC boosted its stake in shares of Illinois Tool Works by 10.8% during the 3rd quarter. Occidental Asset Management LLC now owns 12,759 shares of the industrial products company’s stock valued at $3,344,000 after purchasing an additional 1,245 shares in the last quarter. Harrington Investments INC boosted its stake in shares of Illinois Tool Works by 0.9% during the 3rd quarter. Harrington Investments INC now owns 11,518 shares of the industrial products company’s stock valued at $3,019,000 after purchasing an additional 100 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Illinois Tool Works during the 3rd quarter valued at about $204,000. Finally, Affinity Wealth Management LLC boosted its stake in shares of Illinois Tool Works by 7.2% during the 3rd quarter. Affinity Wealth Management LLC now owns 908 shares of the industrial products company’s stock valued at $238,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.2 %

Shares of Illinois Tool Works stock opened at $260.83 on Thursday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. The stock has a market capitalization of $77.83 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a 52-week low of $217.50 and a 52-week high of $271.15. The company has a 50-day simple moving average of $251.52 and a two-hundred day simple moving average of $247.50.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the company earned $2.41 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.30%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, September 30th. Illinois Tool Works’s payout ratio is presently 59.17%.

Wall Street Analyst Weigh In

Several research firms recently commented on ITW. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Evercore ISI dropped 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. JPMorgan Chase & Co. boosted their price objective 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 boosted their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $255.44.

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.