Folger Nolan Fleming Douglas Capital Management Inc. Boosts Stake in Illinois Tool Works Inc. (NYSE:ITW)

Folger Nolan Fleming Douglas Capital Management Inc. lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,867 shares of the industrial products company’s stock after purchasing an additional 357 shares during the period. Illinois Tool Works comprises about 1.6% of Folger Nolan Fleming Douglas Capital Management Inc.’s portfolio, making the stock its 16th largest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Illinois Tool Works were worth $15,951,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Capital Research Global Investors boosted its holdings in Illinois Tool Works by 1.2% in the 1st quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock worth $1,171,006,000 after buying an additional 51,654 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Illinois Tool Works by 2.4% in the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock worth $640,425,000 after acquiring an additional 62,645 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Illinois Tool Works by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock valued at $361,998,000 after purchasing an additional 133,853 shares during the last quarter. Guinness Asset Management LTD lifted its holdings in Illinois Tool Works by 4.6% in the 3rd quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock valued at $210,447,000 after purchasing an additional 35,145 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Illinois Tool Works by 7.3% during the 2nd quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock worth $176,047,000 after purchasing an additional 50,753 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ITW. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Stifel Nicolaus upped 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. Jefferies Financial Group cut their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Evercore ISI lowered 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. Finally, Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Three investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $255.44.

Illinois Tool Works Stock Performance

NYSE ITW opened at $264.16 on Thursday. The stock has a market cap of $78.43 billion, a PE ratio of 25.90, a P/E/G ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $221.82 and a twelve month high of $271.15. The stock has a fifty day simple moving average of $254.96 and a 200-day simple moving average of $247.27. 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 (NYSE:ITW) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the business earned $2.41 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s payout ratio is 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.