Affinity Wealth Management LLC Grows Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Affinity Wealth Management LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 908 shares of the industrial products company’s stock after acquiring an additional 61 shares during the quarter. Affinity Wealth Management LLC’s holdings in Illinois Tool Works were worth $238,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ITW. Confluence Investment Management LLC purchased a new stake in shares of Illinois Tool Works during the 1st quarter valued at approximately $65,747,000. AXA S.A. raised its stake in shares of Illinois Tool Works by 242.3% during 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 during the period. Guinness Asset Management LTD grew its holdings in Illinois Tool Works by 30.7% during the 2nd 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 increased its position 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 valued at $361,998,000 after buying an additional 133,853 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Illinois Tool Works by 2,334.0% in the first quarter. SG Americas Securities LLC now owns 127,152 shares of the industrial products company’s stock valued at $34,119,000 after acquiring an additional 121,928 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on ITW shares. Wells Fargo & Company upped 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. Stifel Nicolaus reduced their target price on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Jefferies Financial Group dropped their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. JPMorgan Chase & Co. boosted their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $255.22.

Illinois Tool Works Trading Down 0.6 %

Shares of NYSE ITW traded down $1.52 during midday trading on Monday, reaching $259.07. The company had a trading volume of 55,061 shares, compared to its average volume of 1,075,610. The stock has a market cap of $77.31 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The firm’s fifty day moving average price is $250.13 and its 200-day moving average price is $247.50. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17.

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, beating 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 firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the company posted $2.41 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio (DPR) is 59.17%.

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.