Empirical Finance LLC Raises Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Empirical Finance LLC grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 16.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,455 shares of the industrial products company’s stock after acquiring an additional 492 shares during the period. Empirical Finance LLC’s holdings in Illinois Tool Works were worth $772,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ethic Inc. increased its position in shares of Illinois Tool Works by 17.8% during the second quarter. Ethic Inc. now owns 3,770 shares of the industrial products company’s stock valued at $843,000 after buying an additional 569 shares during the period. Financial Advisory Group purchased a new stake in Illinois Tool Works during the 2nd quarter valued at about $226,000. Van ECK Associates Corp increased its position in shares of Illinois Tool Works by 19.0% during the second quarter. Van ECK Associates Corp now owns 27,859 shares of the industrial products company’s stock valued at $6,228,000 after acquiring an additional 4,445 shares in the last quarter. Aviva PLC increased its holdings in shares of Illinois Tool Works by 0.5% in the 2nd quarter. Aviva PLC now owns 105,512 shares of the industrial products company’s stock worth $23,588,000 after purchasing an additional 486 shares in the last quarter. Finally, Atria Investments LLC raised its position in Illinois Tool Works by 19.8% in the 2nd quarter. Atria Investments LLC now owns 16,782 shares of the industrial products company’s stock worth $3,752,000 after buying an additional 2,779 shares during the last quarter. 77.61% of the stock is owned by institutional investors and hedge funds.

Shares of Illinois Tool Works stock opened at $217.07 on Wednesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.73 and a current ratio of 2.20. The firm has a market cap of $68.37 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 2.16 and a beta of 1.08. Illinois Tool Works Inc. has a 1 year low of $188.14 and a 1 year high of $242.07. The firm’s 50-day simple moving average is $228.05 and its 200-day simple moving average is $226.46.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, July 30th. The industrial products company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.09 by $0.01. Illinois Tool Works had a return on equity of 81.66% and a net margin of 19.07%. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter last year, the firm earned $1.01 EPS. The business’s revenue was up 43.4% on a year-over-year basis. On average, equities analysts predict that Illinois Tool Works Inc. will post 8.63 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 14th. Shareholders of record on Thursday, September 30th will be paid a $1.22 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.14. This represents a $4.88 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Wednesday, September 29th. Illinois Tool Works’s payout ratio is presently 65.14%.

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Illinois Tool Works from $227.00 to $238.00 and gave the stock a “hold” rating in a report on Wednesday, July 14th. Citigroup boosted their target price on shares of Illinois Tool Works from $252.00 to $256.00 and gave the stock a “neutral” rating in a report on Monday, August 2nd. Morgan Stanley increased their target price on Illinois Tool Works from $207.00 to $208.00 and gave the company an “underweight” rating in a research report on Monday, August 2nd. Credit Suisse Group lifted their price target on Illinois Tool Works from $265.00 to $268.00 and gave the stock an “outperform” rating in a research report on Monday, August 2nd. Finally, Barclays lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $240.00 to $220.00 in a research report on Wednesday, May 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $227.88.

Illinois Tool Works Profile

Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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