Dean Investment Associates LLC Acquires Shares of 10,656 Illinois Tool Works Inc. (NYSE:ITW)

Dean Investment Associates LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 10,656 shares of the industrial products company's stock, valued at approximately $2,793,000.

Several other hedge funds have also modified their holdings of the business. Nikulski Financial Inc. boosted its stake in shares of Illinois Tool Works by 3.6% during the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company's stock worth $290,000 after acquiring an additional 39 shares in the last quarter. Steele Capital Management Inc. boosted its position in Illinois Tool Works by 4.9% during the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company's stock worth $206,000 after purchasing an additional 40 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in Illinois Tool Works by 2.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company's stock valued at $423,000 after purchasing an additional 40 shares during the last quarter. Sigma Planning Corp increased its position in shares of Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company's stock valued at $1,216,000 after buying an additional 41 shares in the last quarter. Finally, Harbour Investments Inc. raised its stake in shares of Illinois Tool Works by 1.1% during the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company's stock worth $957,000 after buying an additional 41 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ITW shares. Jefferies Financial Group increased their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research note on Friday. StockNews.com raised shares of Illinois Tool Works from a "hold" rating to a "buy" rating in a research note on Thursday, October 31st. Robert W. Baird upped their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Citigroup raised their price target on Illinois Tool Works from $266.00 to $279.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Stifel Nicolaus upped their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the company a "hold" rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of "Hold" and a consensus target price of $267.30.

Illinois Tool Works Trading Up 0.2 %

NYSE:ITW traded up $0.58 during mid-day trading on Monday, reaching $274.11. The company's stock had a trading volume of 816,982 shares, compared to its average volume of 1,041,369. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The company's fifty day simple moving average is $266.20 and its two-hundred day simple moving average is $251.93. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The stock has a market cap of $80.94 billion, a P/E ratio of 23.71, a P/E/G ratio of 4.24 and a beta of 1.10.

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

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.19%. Illinois Tool Works's dividend payout ratio is presently 51.90%.

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.