KPP Advisory Services LLC Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

KPP Advisory Services LLC bought a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 809 shares of the industrial products company’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its stake in shares of Illinois Tool Works by 1.2% during the first quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock valued at $1,171,006,000 after acquiring an additional 51,654 shares during the last quarter. Legal & General Group Plc increased its holdings in Illinois Tool Works by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after purchasing an additional 62,645 shares during the period. Dimensional Fund Advisors LP raised its position in Illinois Tool Works by 9.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock valued at $361,998,000 after purchasing an additional 133,853 shares during the last quarter. Guinness Asset Management LTD lifted its holdings in Illinois Tool Works by 4.6% in the 3rd quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock worth $210,447,000 after buying an additional 35,145 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of Illinois Tool Works by 7.3% in the 2nd quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock worth $176,047,000 after buying an additional 50,753 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ITW. Robert W. Baird raised their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $246.00 to $255.00 in a report on Wednesday. Four analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works has an average 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 12 month low of $232.77 and a 12 month high of $277.58. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The stock’s fifty day moving average price is $260.09 and its 200-day moving average price is $248.94. The stock has a market cap of $79.91 billion, a P/E ratio of 23.41, a P/E/G ratio of 4.19 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion for 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%. Illinois Tool Works’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.55 EPS. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.22%. Illinois Tool Works’s dividend payout ratio is 51.90%.

Illinois Tool Works 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.