Illinois Tool Works Inc. (NYSE:ITW) Stake Raised by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 41.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,745 shares of the industrial products company’s stock after purchasing an additional 3,152 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Illinois Tool Works were worth $2,816,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. AXA S.A. increased its holdings in shares of Illinois Tool Works by 242.3% in the second quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock valued at $80,888,000 after buying an additional 241,618 shares in the last quarter. Guinness Asset Management LTD grew its holdings in shares of Illinois Tool Works by 30.7% in the 2nd quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company’s stock worth $181,926,000 after acquiring an additional 180,458 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Illinois Tool Works by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock worth $361,998,000 after purchasing an additional 133,853 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Illinois Tool Works by 2,334.0% during the first quarter. SG Americas Securities LLC now owns 127,152 shares of the industrial products company’s stock valued at $34,119,000 after purchasing an additional 121,928 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Illinois Tool Works by 75.1% in the 2nd quarter. Renaissance Technologies LLC now owns 258,000 shares of the industrial products company’s stock valued at $61,136,000 after purchasing an additional 110,673 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.2 %

ITW stock opened at $257.45 on Wednesday. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The company has a market cap of $76.82 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The business’s 50-day simple moving average is $253.18 and its 200 day simple moving average is $247.27.

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

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.33%. 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 is 59.17%.

Analyst Ratings Changes

A number of analysts have commented on ITW shares. JPMorgan Chase & Co. upped their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group reduced their price target on shares of 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. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus increased their target price on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Finally, Evercore ISI cut their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $255.44.

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.