Illinois Tool Works Inc. (NYSE:ITW) Stake Boosted by Brooklyn Investment Group

Brooklyn Investment Group increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,904 shares of the industrial products company’s stock after purchasing an additional 183 shares during the quarter. Brooklyn Investment Group’s holdings in Illinois Tool Works were worth $499,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Financial Connections Group Inc. bought a new stake in Illinois Tool Works in the second quarter valued at $30,000. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works during the second quarter valued at $30,000. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works during the third quarter valued at $32,000. Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works during the third quarter worth about $35,000. Finally, Meeder Asset Management Inc. grew its holdings 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 period. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Up 0.1 %

Shares of Illinois Tool Works stock opened at $276.51 on Wednesday. The firm has a market cap of $81.65 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 4.28 and a beta of 1.10. 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 52-week low of $232.77 and a 52-week high of $277.94. The stock has a 50-day simple moving average of $263.06 and a 200-day simple moving average of $250.21.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.55 EPS. On average, equities research analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s payout ratio is 51.90%.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Barclays lifted their price target on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price target on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $257.30.

About Illinois Tool Works

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.