Private Advisor Group LLC Increases Position in Illinois Tool Works Inc. (NYSE:ITW)

Private Advisor Group LLC lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,762 shares of the industrial products company’s stock after buying an additional 1,513 shares during the quarter. Private Advisor Group LLC’s holdings in Illinois Tool Works were worth $11,731,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Steele Capital Management Inc. boosted its holdings in shares of Illinois Tool Works by 4.9% in the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 40 shares during the period. EP Wealth Advisors LLC increased its holdings in 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 valued at $1,178,000 after buying an additional 42 shares during the period. Procyon Advisors LLC raised its stake in Illinois Tool Works by 2.7% in the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock worth $422,000 after buying an additional 43 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in 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 buying an additional 44 shares during the period. Finally, Carson Advisory Inc. boosted its position in Illinois Tool Works by 3.0% during the 1st quarter. Carson Advisory Inc. now owns 1,552 shares of the industrial products company’s stock valued at $417,000 after acquiring an additional 45 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Down 0.3 %

NYSE:ITW opened at $255.53 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 company’s fifty day moving average price is $253.53 and its 200-day moving average price is $247.33. Illinois Tool Works Inc. has a 1-year low of $219.01 and a 1-year high of $271.15. The firm has a market capitalization of $76.25 billion, a P/E ratio of 25.20, a PEG ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.09. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $2.41 EPS. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.35%. The ex-dividend date was Monday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio is currently 59.17%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Jefferies Financial Group reduced their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Barclays decreased their price target on 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, StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and an average target price of $255.44.

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.