Ritholtz Wealth Management Has $3.12 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Ritholtz Wealth Management decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,917 shares of the industrial products company’s stock after selling 146 shares during the period. Ritholtz Wealth Management’s holdings in Illinois Tool Works were worth $3,123,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. PEAK6 Investments LLC raised its holdings in shares of Illinois Tool Works by 17.5% in the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 140 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Illinois Tool Works in the first quarter valued at approximately $1,147,000. Norden Group LLC boosted its position in shares of Illinois Tool Works by 1,889.1% during the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock valued at $7,103,000 after buying an additional 25,144 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Illinois Tool Works by 78.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock worth $9,907,000 after buying an additional 16,216 shares in the last quarter. Finally, 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 valued at $37,999,000 after buying an additional 9,825 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Jefferies Financial Group cut their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Evercore ISI decreased their price objective on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company boosted their target price on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Barclays decreased their price target on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $255.22.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $260.59 on Friday. The firm has a market cap of $77.37 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The stock has a fifty day simple moving average of $250.13 and a two-hundred day simple moving average of $247.65. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. 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 for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the firm posted $2.41 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. Analysts anticipate that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $1.50 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Monday, September 30th. Illinois Tool Works’s dividend payout ratio is presently 58.82%.

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.