Kingsview Wealth Management LLC Raises Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Kingsview Wealth Management LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 17.2% during the 3rd quarter, Holdings Channel reports. The firm owned 10,126 shares of the industrial products company’s stock after acquiring an additional 1,483 shares during the period. Kingsview Wealth Management LLC’s holdings in Illinois Tool Works were worth $2,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Fairscale Capital LLC purchased a new position in shares of Illinois Tool Works in the 2nd quarter worth about $30,000. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works in the third quarter worth about $32,000. Financial Connections Group Inc. purchased a new position in Illinois Tool Works in the second quarter valued at about $30,000. Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works during the 3rd quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Illinois Tool Works by 261.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 115 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ITW. Argus raised Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Barclays boosted their price objective on Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Stifel Nicolaus increased 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. Finally, Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $257.30.

Illinois Tool Works Stock Performance

NYSE ITW opened at $273.95 on Monday. The company’s 50 day simple moving average is $262.20 and its two-hundred day simple moving average is $249.84. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $277.58. The stock has a market capitalization of $80.90 billion, a PE ratio of 23.70, a P/E/G ratio of 4.18 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the business posted $2.55 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. Analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s 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.