Joel Isaacson & Co. LLC Purchases 166 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Joel Isaacson & Co. LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,337 shares of the industrial products company’s stock after purchasing an additional 166 shares during the period. Joel Isaacson & Co. LLC’s holdings in Illinois Tool Works were worth $612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ITW. Financial Connections Group Inc. acquired a new position in Illinois Tool Works during the second quarter worth approximately $30,000. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works during the 2nd quarter worth approximately $30,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works in the 3rd quarter valued at $35,000. Meeder Asset Management Inc. lifted its holdings in Illinois Tool Works by 261.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 115 shares during the last quarter. Finally, Valued Wealth Advisors LLC boosted its position in Illinois Tool Works by 2,162.5% during the second quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 173 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Down 0.6 %

Shares of NYSE ITW opened at $254.08 on Friday. Illinois Tool Works Inc. has a 52 week low of $221.82 and a 52 week high of $271.15. The stock’s fifty day moving average is $254.08 and its 200 day moving average is $247.23. 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 $75.82 billion, a P/E ratio of 25.06, a PEG ratio of 4.10 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, beating the consensus estimate of $2.45 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.41 EPS. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.36%. Illinois Tool Works’s payout ratio is 59.17%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ITW. StockNews.com cut 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 Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Evercore ISI lowered their target price on 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 target on 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, Jefferies Financial Group decreased their price objective on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus 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.