RB Capital Management LLC Invests $213,000 in Illinois Tool Works Inc. (NYSE:ITW)

RB Capital Management LLC acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 811 shares of the industrial products company’s stock, valued at approximately $213,000.

A number of other hedge funds have also modified their holdings of the business. Wolverine Asset Management LLC purchased a new stake in Illinois Tool Works in the 3rd quarter worth approximately $1,179,000. Daiwa Securities Group Inc. grew its stake in Illinois Tool Works by 11.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 36,938 shares of the industrial products company’s stock worth $9,680,000 after acquiring an additional 3,903 shares during the period. Handelsbanken Fonder AB grew its stake 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 acquiring an additional 9,825 shares during the period. Benjamin Edwards Inc. grew its stake in Illinois Tool Works by 787.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock worth $48,945,000 after acquiring an additional 165,607 shares during the period. Finally, NewEdge Advisors LLC grew its stake in Illinois Tool Works by 7.8% in the 2nd quarter. NewEdge Advisors LLC now owns 175,921 shares of the industrial products company’s stock worth $41,686,000 after acquiring an additional 12,804 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on ITW. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price target for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Barclays upgraded shares of Illinois Tool Works from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $230.00 to $270.00 in a report on Thursday, December 5th. Robert W. Baird lifted their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $267.30.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $273.79 on Wednesday. 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 market capitalization of $80.85 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 4.24 and a beta of 1.10. The firm’s fifty day simple moving average is $266.20 and its 200 day simple moving average is $251.93. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the firm posted $2.55 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities research 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 company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

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.