Illinois Tool Works Inc. (NYSE:ITW) Stock Position Lifted by Caprock Group LLC

Caprock Group LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,650 shares of the industrial products company’s stock after acquiring an additional 399 shares during the period. Caprock Group LLC’s holdings in Illinois Tool Works were worth $2,280,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at about $244,000. Covestor Ltd grew its holdings in shares of Illinois Tool Works by 17.9% during the first quarter. Covestor Ltd now owns 375 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 57 shares during the last quarter. Evermay Wealth Management LLC raised its position in shares of Illinois Tool Works by 28.6% during the 1st quarter. Evermay Wealth Management LLC now owns 1,195 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 266 shares during the period. Crewe Advisors LLC bought a new stake in shares of Illinois Tool Works in the 1st quarter worth approximately $129,000. Finally, Vident Advisory LLC boosted its position in Illinois Tool Works by 57.0% during the 1st quarter. Vident Advisory LLC now owns 21,956 shares of the industrial products company’s stock valued at $5,892,000 after purchasing an additional 7,975 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $266.46 on Wednesday. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $277.58. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The firm has a 50-day moving average of $260.94 and a two-hundred day moving average of $249.34. The company has a market capitalization of $78.69 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 4.19 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $2.55 earnings per share. As a group, analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.25%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Barclays lifted their price target on Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company raised their target price on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $257.30.

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.