Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Cross Staff Investments Inc

Cross Staff Investments Inc lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,596 shares of the industrial products company’s stock after purchasing an additional 51 shares during the quarter. Cross Staff Investments Inc’s holdings in Illinois Tool Works were worth $942,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fairscale Capital LLC acquired a new stake in shares of Illinois Tool Works in the second quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new stake in Illinois Tool Works during the 2nd quarter worth $30,000. Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works during the 3rd quarter worth $35,000. Meeder Asset Management Inc. increased its stake in Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 115 shares during the period. Finally, Financial Management Professionals Inc. raised its holdings in shares of Illinois Tool Works by 132.0% in the first quarter. Financial Management Professionals Inc. now owns 174 shares of the industrial products company’s stock valued at $47,000 after buying an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ITW. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Barclays lowered their target price on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Stifel Nicolaus lifted 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 report on Wednesday, October 16th. Finally, Evercore ISI cut their price objective on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $255.44.

Illinois Tool Works Trading Down 0.3 %

NYSE:ITW opened at $255.53 on Friday. Illinois Tool Works Inc. has a 1 year low of $219.01 and a 1 year high of $271.15. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. The stock has a fifty day moving average price of $253.53 and a two-hundred day moving average price of $247.33. The stock has a market capitalization of $76.25 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 4.10 and a beta of 1.10.

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 (EPS) 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 the consensus estimate of $4.08 billion. During the same quarter last year, the firm posted $2.41 EPS. The business’s revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.18 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 issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 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.