InvesTrust Acquires Shares of 24,022 Illinois Tool Works Inc. (NYSE:ITW)

InvesTrust bought a new position in Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 24,022 shares of the industrial products company’s stock, valued at approximately $6,102,000. Illinois Tool Works comprises about 1.7% of InvesTrust’s holdings, making the stock its 29th largest position.

Several other hedge funds have also recently made changes to their positions in the business. Franklin Resources Inc. increased its position in shares of Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter worth about $1,179,000. Daiwa Securities Group Inc. grew its holdings in Illinois Tool Works by 11.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 36,938 shares of the industrial products company’s stock valued at $9,680,000 after purchasing an additional 3,903 shares during the last quarter. Handelsbanken Fonder AB raised its position in Illinois Tool Works by 7.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock worth $37,999,000 after purchasing an additional 9,825 shares during the period. Finally, National Bank of Canada FI boosted its position in shares of Illinois Tool Works by 318.9% during the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after buying an additional 308,935 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ITW shares. Barclays reduced their price target on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a report on Wednesday. Citigroup lifted their target price on Illinois Tool Works from $266.00 to $279.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird raised their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $268.00.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW traded down $0.23 during trading on Wednesday, hitting $248.36. The stock had a trading volume of 569,934 shares, compared to its average volume of 724,161. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $73.34 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 4.22 and a beta of 1.11. The stock has a 50-day simple moving average of $266.87 and a two-hundred day simple moving average of $254.95.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.55 earnings per share. On average, equities research analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced 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 of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.42%. Illinois Tool Works’s payout ratio is 51.90%.

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.