Mitchell & Pahl Private Wealth LLC Acquires 260 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Mitchell & Pahl Private Wealth LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,525 shares of the industrial products company’s stock after buying an additional 260 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Illinois Tool Works were worth $1,972,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AXA S.A. boosted its stake in shares of Illinois Tool Works by 242.3% in the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock valued at $80,888,000 after purchasing an additional 241,618 shares in the last quarter. Guinness Asset Management LTD boosted its position in Illinois Tool Works by 30.7% in the second quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company’s stock valued at $181,926,000 after buying an additional 180,458 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Illinois Tool Works by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock worth $361,998,000 after buying an additional 133,853 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Illinois Tool Works by 2,334.0% during the first quarter. SG Americas Securities LLC now owns 127,152 shares of the industrial products company’s stock worth $34,119,000 after buying an additional 121,928 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Illinois Tool Works by 75.1% in the 2nd quarter. Renaissance Technologies LLC now owns 258,000 shares of the industrial products company’s stock valued at $61,136,000 after acquiring an additional 110,673 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.5 %

ITW stock traded down $1.41 during midday trading on Thursday, hitting $259.42. The stock had a trading volume of 174,615 shares, compared to its average volume of 1,069,692. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. The firm has a market cap of $77.41 billion, a P/E ratio of 25.72, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The business has a fifty day moving average price of $251.52 and a two-hundred day moving average price of $247.50. Illinois Tool Works Inc. has a 1-year low of $217.50 and a 1-year high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the business earned $2.41 EPS. The firm’s revenue was down 1.2% compared to the same quarter last year. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $1.50 dividend. The ex-dividend date was Monday, September 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.31%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s payout ratio is currently 59.17%.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of research reports. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Barclays reduced their price target on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a report on Wednesday, July 31st. Jefferies Financial Group dropped their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, Evercore ISI decreased their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $255.44.

About Illinois Tool Works

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.