Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITWGet Rating) by 17.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,134 shares of the industrial products company’s stock after buying an additional 171 shares during the period. J.W. Cole Advisors Inc.’s holdings in Illinois Tool Works were worth $237,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Siemens Fonds Invest GmbH increased its holdings in shares of Illinois Tool Works by 1.1% in the fourth quarter. Siemens Fonds Invest GmbH now owns 4,344 shares of the industrial products company’s stock valued at $1,066,000 after buying an additional 49 shares in the last quarter. Janney Capital Management LLC increased its holdings in shares of Illinois Tool Works by 3.8% in the first quarter. Janney Capital Management LLC now owns 1,380 shares of the industrial products company’s stock valued at $289,000 after buying an additional 50 shares in the last quarter. Shoker Investment Counsel Inc. increased its holdings in shares of Illinois Tool Works by 0.6% in the first quarter. Shoker Investment Counsel Inc. now owns 8,149 shares of the industrial products company’s stock valued at $1,706,000 after buying an additional 51 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Illinois Tool Works by 3.6% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,512 shares of the industrial products company’s stock valued at $317,000 after buying an additional 52 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its holdings in shares of Illinois Tool Works by 3.5% in the first quarter. CWA Asset Management Group LLC now owns 1,617 shares of the industrial products company’s stock valued at $339,000 after buying an additional 54 shares in the last quarter. 79.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ITW has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $180.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 3rd. Citigroup boosted their target price on shares of Illinois Tool Works from $191.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, August 3rd. Bank of America reissued a “neutral” rating and set a $220.00 target price on shares of Illinois Tool Works in a research note on Wednesday, August 24th. Robert W. Baird set a $213.00 target price on shares of Illinois Tool Works in a research note on Tuesday, August 2nd. Finally, Morgan Stanley boosted their target price on shares of Illinois Tool Works from $182.00 to $191.00 and gave the company an “underweight” rating in a research note on Wednesday, August 3rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $202.00.

Illinois Tool Works Trading Down 1.1 %

NYSE ITW opened at $192.72 on Thursday. The company has a market capitalization of $59.67 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 2.73 and a beta of 1.12. Illinois Tool Works Inc. has a 1-year low of $173.52 and a 1-year high of $249.81. The firm’s fifty day simple moving average is $201.23 and its 200-day simple moving average is $200.63. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 1.81.

Illinois Tool Works (NYSE:ITWGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.16. Illinois Tool Works had a net margin of 17.44% and a return on equity of 75.41%. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.98 billion. During the same quarter in the prior year, the business earned $2.10 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 9.08 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $1.31 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.22. The ex-dividend date is Thursday, September 29th. This represents a $5.24 annualized dividend and a dividend yield of 2.72%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.89%.

Illinois Tool Works Profile

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Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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