Brookstone Capital Management Increases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Brookstone Capital Management boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITWGet Rating) by 5.1% during the second quarter, Holdings Channel.com reports. The firm owned 4,263 shares of the industrial products company’s stock after buying an additional 205 shares during the quarter. Brookstone Capital Management’s holdings in Illinois Tool Works were worth $777,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Invesco Ltd. raised its position in Illinois Tool Works by 3.4% in the fourth quarter. Invesco Ltd. now owns 1,228,142 shares of the industrial products company’s stock valued at $303,106,000 after purchasing an additional 40,797 shares during the period. Clark Capital Management Group Inc. acquired a new position in Illinois Tool Works in the fourth quarter valued at about $411,000. Mutual Advisors LLC boosted its stake in Illinois Tool Works by 5.0% during the fourth quarter. Mutual Advisors LLC now owns 2,894 shares of the industrial products company’s stock worth $714,000 after buying an additional 139 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $315,000. Finally, Quantitative Investment Management LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at approximately $547,000. 79.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ITW. Credit Suisse Group lifted their price objective on Illinois Tool Works from $225.00 to $229.00 and gave the company an “outperform” rating in a research note on Wednesday, August 3rd. Barclays lowered their price objective on shares of Illinois Tool Works from $180.00 to $167.00 and set an “underweight” rating for the company in a research note on Friday, July 8th. Wells Fargo & Company upped their target price on shares of Illinois Tool Works from $180.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 3rd. Jefferies Financial Group cut their price objective on Illinois Tool Works from $235.00 to $195.00 in a research report on Friday, July 15th. Finally, JPMorgan Chase & Co. decreased their target price on Illinois Tool Works from $255.00 to $215.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $202.00.

Illinois Tool Works Trading Down 2.0 %

NYSE:ITW opened at $188.89 on Friday. Illinois Tool Works Inc. has a 1 year low of $173.52 and a 1 year high of $249.81. The stock has a market cap of $58.48 billion, a P/E ratio of 22.41, a P/E/G ratio of 2.69 and a beta of 1.12. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.02 and a current ratio of 1.48. The stock has a 50-day simple moving average of $201.49 and a 200-day simple moving average of $200.51.

Illinois Tool Works (NYSE:ITWGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $2.37 EPS for the quarter, beating the consensus estimate 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 company had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same period in the prior year, the firm posted $2.10 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $1.31 per share. The ex-dividend date is Thursday, September 29th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.77%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.22. Illinois Tool Works’s payout ratio is 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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