Sage Capital Advisors llc Raises Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Sage Capital Advisors llc grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,459 shares of the industrial products company’s stock after purchasing an additional 105 shares during the quarter. Illinois Tool Works makes up approximately 1.8% of Sage Capital Advisors llc’s portfolio, making the stock its 17th biggest position. Sage Capital Advisors llc’s holdings in Illinois Tool Works were worth $5,118,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ITW. Creative Capital Management Investments LLC boosted its holdings in Illinois Tool Works by 145.2% in the first quarter. Creative Capital Management Investments LLC now owns 103 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 61 shares in the last quarter. Sturgeon Ventures LLP purchased a new position in shares of Illinois Tool Works during the first quarter valued at about $26,000. Quarry LP raised its stake in Illinois Tool Works by 52.7% in the first quarter. Quarry LP now owns 142 shares of the industrial products company’s stock worth $35,000 after buying an additional 49 shares in the last quarter. AXS Investments LLC purchased a new stake in Illinois Tool Works in the fourth quarter worth about $40,000. Finally, Ritter Daniher Financial Advisory LLC DE boosted its position in Illinois Tool Works by 43.5% during the 1st quarter. Ritter Daniher Financial Advisory LLC DE now owns 165 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 50 shares in the last quarter. 79.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on ITW shares. Wells Fargo & Company raised their target price on Illinois Tool Works from $235.00 to $240.00 in a research note on Monday, July 10th. Credit Suisse Group upped their target price on shares of Illinois Tool Works from $281.00 to $292.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, July 19th. Barclays cut their price objective on shares of Illinois Tool Works from $213.00 to $198.00 in a report on Thursday, September 7th. Finally, Citigroup lifted their target price on shares of Illinois Tool Works from $256.00 to $258.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average price target of $237.18.

Illinois Tool Works Stock Performance

Shares of ITW traded down $0.80 during trading hours on Tuesday, hitting $236.91. The stock had a trading volume of 123,460 shares, compared to its average volume of 1,068,520. The firm has a market capitalization of $71.64 billion, a PE ratio of 23.51, a PEG ratio of 4.25 and a beta of 1.15. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.59 and a quick ratio of 1.11. Illinois Tool Works Inc. has a 12 month low of $180.27 and a 12 month high of $264.19. The stock has a fifty day moving average price of $245.99 and a 200 day moving average price of $238.81.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.02. Illinois Tool Works had a return on equity of 94.14% and a net margin of 19.30%. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the previous year, the company posted $2.37 EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Analysts anticipate that Illinois Tool Works Inc. will post 9.74 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, September 29th will be paid a dividend of $1.40 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.31. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.36%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.83%.

Illinois Tool Works Profile

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.