Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Stephens Inc. AR

Stephens Inc. AR lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,185 shares of the industrial products company’s stock after purchasing an additional 885 shares during the period. Stephens Inc. AR’s holdings in Illinois Tool Works were worth $4,766,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ITW. Financial Connections Group Inc. purchased a new stake in Illinois Tool Works in the second quarter valued at approximately $30,000. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at $30,000. Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter valued at $35,000. Meeder Asset Management Inc. boosted its stake in Illinois Tool Works by 261.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 115 shares during the period. Finally, Valued Wealth Advisors LLC grew its position in Illinois Tool Works by 2,162.5% during the 2nd quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 173 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Robert W. Baird increased their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday. Evercore ISI dropped their target price on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Jefferies Financial Group decreased 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. Finally, Stifel Nicolaus boosted their price objective 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, October 16th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $256.40.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $263.08 on Friday. The firm’s fifty day simple moving average is $255.59 and its 200-day simple moving average is $247.41. The company has a quick ratio of 0.92, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The stock has a market cap of $77.69 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 3.97 and a beta of 1.10. Illinois Tool Works Inc. has a fifty-two week low of $225.88 and a fifty-two week high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share 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 company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the business posted $2.55 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Analysts expect that Illinois Tool Works Inc. will post 10.63 earnings per share for the current fiscal 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 dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.28%. Illinois Tool Works’s payout ratio 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.