True Wealth Design LLC Grows Position in Illinois Tool Works Inc. (NYSE:ITW)

True Wealth Design LLC increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 1,060.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 116 shares of the industrial products company’s stock after purchasing an additional 106 shares during the period. True Wealth Design LLC’s holdings in Illinois Tool Works were worth $30,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cobblestone Capital Advisors LLC NY raised its stake in shares of Illinois Tool Works by 2.7% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 2,844 shares of the industrial products company’s stock valued at $745,000 after acquiring an additional 76 shares during the last quarter. Kolinsky Wealth Management LLC bought a new position in Illinois Tool Works during the 3rd quarter valued at approximately $207,000. Captrust Financial Advisors lifted its holdings in Illinois Tool Works by 9.9% in the 3rd quarter. Captrust Financial Advisors now owns 39,704 shares of the industrial products company’s stock worth $10,405,000 after buying an additional 3,581 shares during the period. CWS Financial Advisors LLC grew its position in shares of Illinois Tool Works by 12.5% in the 3rd quarter. CWS Financial Advisors LLC now owns 1,633 shares of the industrial products company’s stock worth $428,000 after buying an additional 181 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of Illinois Tool Works by 17.5% during the third quarter. Public Sector Pension Investment Board now owns 8,043 shares of the industrial products company’s stock valued at $2,108,000 after buying an additional 1,200 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Wells Fargo & Company raised their price objective 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. Stifel Nicolaus lifted their price target on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Robert W. Baird upped 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. Four 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 MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $257.30.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $277.52 on Monday. The company has a market capitalization of $81.95 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 4.30 and a beta of 1.10. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company’s 50-day moving average is $264.35 and its 200 day moving average is $250.78.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion for 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 business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.55 earnings per share. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

Illinois Tool Works 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.