Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 42.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,986 shares of the industrial products company’s stock after acquiring an additional 11,663 shares during the quarter. Empowered Funds LLC’s holdings in Illinois Tool Works were worth $10,217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Banco Santander S.A. acquired a new stake in shares of Illinois Tool Works in the 1st quarter valued at about $483,000. First Foundation Advisors grew its position in shares of Illinois Tool Works by 167.0% during the first quarter. First Foundation Advisors now owns 494 shares of the industrial products company’s stock worth $133,000 after acquiring an additional 309 shares during the last quarter. Nicolet Advisory Services LLC increased its holdings in shares of Illinois Tool Works by 5.6% in the 1st quarter. Nicolet Advisory Services LLC now owns 1,060 shares of the industrial products company’s stock valued at $278,000 after acquiring an additional 56 shares during the period. Spirepoint Private Client LLC purchased a new stake in Illinois Tool Works in the 1st quarter valued at $299,000. Finally, TIAA Trust National Association boosted its stake in Illinois Tool Works by 4.9% during the 1st quarter. TIAA Trust National Association now owns 22,714 shares of the industrial products company’s stock worth $6,095,000 after purchasing an additional 1,067 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Robert W. Baird increased their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays lifted their price objective on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $257.30.

Illinois Tool Works Trading Up 0.3 %

NYSE:ITW opened at $270.62 on Friday. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $277.58. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The stock has a fifty day moving average price of $260.09 and a two-hundred day moving average price of $248.90. The stock has a market capitalization of $79.91 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 4.23 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.55 EPS. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) 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.