Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Good Life Advisors LLC

Good Life Advisors LLC increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 129.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,258 shares of the industrial products company’s stock after acquiring an additional 2,405 shares during the period. Good Life Advisors LLC’s holdings in Illinois Tool Works were worth $1,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. PEAK6 Investments LLC increased its holdings in shares of Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 140 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Illinois Tool Works in the first quarter valued at $1,147,000. Norden Group LLC raised its position in shares of Illinois Tool Works by 1,889.1% in the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after acquiring an additional 25,144 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Illinois Tool Works by 78.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock worth $9,907,000 after acquiring an additional 16,216 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of Illinois Tool Works by 7.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock valued at $37,999,000 after acquiring an additional 9,825 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Barclays cut their price target on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a report on Wednesday, July 31st. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $255.44.

Illinois Tool Works Price Performance

ITW stock opened at $260.65 on Friday. Illinois Tool Works Inc. has a 1 year low of $217.50 and a 1 year high of $271.15. The firm has a market capitalization of $77.78 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. 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 business has a 50 day simple moving average of $251.94 and a 200-day simple moving average of $247.59.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the company earned $2.41 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently announced 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 annualized dividend and a yield of 2.30%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, September 30th. Illinois Tool Works’s payout ratio is presently 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.