Great Lakes Advisors LLC increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 2.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,338 shares of the industrial products company’s stock after purchasing an additional 392 shares during the quarter. Great Lakes Advisors LLC’s holdings in Illinois Tool Works were worth $4,337,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Avantax Planning Partners Inc. raised its holdings in shares of Illinois Tool Works by 0.5% in the 2nd quarter. Avantax Planning Partners Inc. now owns 8,007 shares of the industrial products company’s stock valued at $2,003,000 after buying an additional 42 shares during the period. NTV Asset Management LLC lifted its position in shares of Illinois Tool Works by 3.2% during the first quarter. NTV Asset Management LLC now owns 1,410 shares of the industrial products company’s stock worth $343,000 after purchasing an additional 44 shares in the last quarter. Ropes Wealth Advisors LLC boosted its stake in shares of Illinois Tool Works by 0.5% in the second quarter. Ropes Wealth Advisors LLC now owns 9,794 shares of the industrial products company’s stock valued at $2,450,000 after purchasing an additional 44 shares during the period. Massachusetts Wealth Management grew its holdings in shares of Illinois Tool Works by 0.8% in the second quarter. Massachusetts Wealth Management now owns 6,028 shares of the industrial products company’s stock valued at $1,508,000 after purchasing an additional 45 shares in the last quarter. Finally, Lokken Investment Group LLC increased its stake in Illinois Tool Works by 5.0% during the 2nd quarter. Lokken Investment Group LLC now owns 944 shares of the industrial products company’s stock worth $236,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 79.56% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. Credit Suisse Group boosted their price target on shares of Illinois Tool Works from $281.00 to $292.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Citigroup boosted their target price on Illinois Tool Works from $256.00 to $258.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. JPMorgan Chase & Co. reduced their price target on Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. StockNews.com initiated coverage on Illinois Tool Works in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $250.00 to $235.00 in a report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $238.25.
Illinois Tool Works Stock Down 0.1 %
Shares of NYSE:ITW opened at $239.62 on Tuesday. The firm has a 50 day simple moving average of $231.92 and a 200-day simple moving average of $237.88. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $264.19. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 2.27. The company has a market capitalization of $72.10 billion, a PE ratio of 23.24, a P/E/G ratio of 4.56 and a beta of 1.14.
Illinois Tool Works (NYSE:ITW – Get Free Report) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.09. Illinois Tool Works had a return on equity of 95.68% and a net margin of 19.55%. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the company posted $2.35 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts predict that Illinois Tool Works Inc. will post 9.68 EPS for the current fiscal year.
Illinois Tool Works Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, December 29th will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, December 28th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 54.32%.
About Illinois Tool Works
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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