Dearborn Partners LLC Has $53.23 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Dearborn Partners LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 203,124 shares of the industrial products company's stock after selling 3,894 shares during the period. Illinois Tool Works accounts for approximately 2.2% of Dearborn Partners LLC's portfolio, making the stock its 6th biggest holding. Dearborn Partners LLC owned 0.07% of Illinois Tool Works worth $53,233,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ITW. International Assets Investment Management LLC increased its position in shares of Illinois Tool Works by 26,088.4% during the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company's stock worth $847,610,000 after purchasing an additional 322,192 shares in the last quarter. AXA S.A. boosted its holdings in shares of Illinois Tool Works by 242.3% in the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company's stock worth $80,888,000 after acquiring an additional 241,618 shares in the last quarter. Guinness Asset Management LTD grew its position in Illinois Tool Works by 30.7% during the 2nd quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company's stock worth $181,926,000 after acquiring an additional 180,458 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Illinois Tool Works by 9.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company's stock valued at $361,998,000 after purchasing an additional 133,853 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Illinois Tool Works by 75.1% in the second quarter. Renaissance Technologies LLC now owns 258,000 shares of the industrial products company's stock worth $61,136,000 after purchasing an additional 110,673 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ITW shares. StockNews.com raised shares of Illinois Tool Works from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Barclays upped their price target 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. JPMorgan Chase & Co. upped their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Finally, Robert W. Baird upped their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $257.30.

Illinois Tool Works Stock Up 0.1 %

ITW traded up $0.28 during trading hours on Friday, hitting $270.15. 450,384 shares of the company's stock were exchanged, compared to its average volume of 1,055,033. The stock has a market cap of $79.78 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 4.23 and a beta of 1.10. The stock's 50-day moving average is $259.56 and its two-hundred day moving average is $248.75. 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 Inc. has a 1-year low of $232.77 and a 1-year high of $277.58.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 97.06% and a net margin of 21.66%. The firm'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 EPS. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works's dividend payout ratio is currently 51.90%.

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.