Kohmann Bosshard Financial Services LLC Acquires New Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Kohmann Bosshard Financial Services LLC bought a new position in Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, Holdings Channel.com reports. The fund bought 826 shares of the industrial products company’s stock, valued at approximately $216,000.

Other large investors have also bought and sold shares of the company. Financial Connections Group Inc. acquired a new position in Illinois Tool Works in the second quarter worth approximately $30,000. Fairscale Capital LLC acquired a new position in Illinois Tool Works during the second quarter valued at $30,000. Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works in the first quarter worth approximately $34,000. Meeder Asset Management Inc. lifted its position in Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after buying an additional 115 shares in the last quarter. Finally, Valued Wealth Advisors LLC raised its holdings in shares of Illinois Tool Works by 2,162.5% during the second quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 173 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday. Evercore ISI cut their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Jefferies Financial Group decreased their target price 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. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $255.44.

Illinois Tool Works Price Performance

NYSE:ITW opened at $261.03 on Friday. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. The stock has a market cap of $77.89 billion, a P/E ratio of 25.74, a PEG ratio of 4.10 and a beta of 1.10. The company has a fifty day moving average price of $252.37 and a 200 day moving average price of $247.56. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its earnings results 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 net margin of 19.15% and a return on equity of 99.74%. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the company earned $2.41 earnings per share. The firm’s revenue 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 company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.30%. 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 presently 59.17%.

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.