Janney Montgomery Scott LLC Has $55.56 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Janney Montgomery Scott LLC lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 212,011 shares of the industrial products company’s stock after acquiring an additional 3,003 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Illinois Tool Works were worth $55,562,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Financial Connections Group Inc. acquired a new position in shares of Illinois Tool Works in the second quarter valued at $30,000. Fairscale Capital LLC acquired a new position in Illinois Tool Works in the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC bought a new position in Illinois Tool Works in the 3rd quarter valued at about $35,000. Meeder Asset Management Inc. lifted its position in Illinois Tool Works by 261.4% during the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 115 shares during the last quarter. Finally, Valued Wealth Advisors LLC boosted its holdings in shares of Illinois Tool Works by 2,162.5% during the second quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 173 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.7 %

Shares of ITW opened at $263.08 on Monday. The stock has a market capitalization of $77.69 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 3.97 and a beta of 1.10. Illinois Tool Works Inc. has a 52 week low of $225.88 and a 52 week high of $271.15. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.92 and a current ratio of 1.36. The stock has a fifty day moving average of $255.59 and a 200-day moving average of $247.39.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.55 earnings per share. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.63 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.28%. Illinois Tool Works’s payout ratio is currently 51.90%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company increased their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Barclays raised their target price on shares of Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday. Argus raised Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, 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 report on Thursday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $256.40.

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.