Barclays PLC Has $203.62 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Barclays PLC grew its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 776,966 shares of the industrial products company's stock after purchasing an additional 12,988 shares during the period. Barclays PLC owned about 0.26% of Illinois Tool Works worth $203,619,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITW. Continuum Advisory LLC grew its position in Illinois Tool Works by 261.6% in the third quarter. Continuum Advisory LLC now owns 499 shares of the industrial products company's stock worth $135,000 after acquiring an additional 361 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Illinois Tool Works by 9.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 261,636 shares of the industrial products company's stock valued at $68,567,000 after purchasing an additional 23,082 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of Illinois Tool Works by 35.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 8,786 shares of the industrial products company's stock valued at $2,303,000 after purchasing an additional 2,312 shares during the last quarter. MML Investors Services LLC boosted its holdings in Illinois Tool Works by 3.3% in the third quarter. MML Investors Services LLC now owns 60,229 shares of the industrial products company's stock worth $15,784,000 after purchasing an additional 1,905 shares in the last quarter. Finally, Dean Investment Associates LLC acquired a new position in Illinois Tool Works during the third quarter worth $2,793,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ITW. Stifel Nicolaus increased their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. StockNews.com upgraded Illinois Tool Works from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Citigroup boosted their price objective on shares of Illinois Tool Works from $266.00 to $279.00 and gave the stock a "neutral" rating in a research note on Monday. Evercore ISI lowered shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and raised their target price for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works currently has an average rating of "Hold" and a consensus target price of $267.30.

Illinois Tool Works Stock Performance

Illinois Tool Works stock traded down $0.28 during trading hours on Tuesday, hitting $273.79. The stock had a trading volume of 830,809 shares, compared to its average volume of 1,040,484. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a market cap of $80.85 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 4.24 and a beta of 1.10. The company has a 50-day moving average of $266.20 and a two-hundred day moving average of $251.93. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

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

Illinois Tool Works Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works's dividend 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.