DRW Securities LLC Takes $809,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

DRW Securities LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,086 shares of the industrial products company's stock, valued at approximately $809,000.

A number of other hedge funds also recently made changes to their positions in ITW. Fairscale Capital LLC acquired a new stake in shares of Illinois Tool Works during the second quarter valued at about $30,000. Catalyst Capital Advisors LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter valued at approximately $32,000. Financial Connections Group Inc. bought a new stake in shares of Illinois Tool Works in the second quarter worth $30,000. Northwest Investment Counselors LLC bought a new position in Illinois Tool Works during the 3rd quarter valued at $35,000. Finally, Meeder Asset Management Inc. increased its position in shares of Illinois Tool Works by 261.4% in 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. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Price Performance

Shares of ITW stock traded up $0.14 during mid-day trading on Tuesday, hitting $276.51. 828,401 shares of the stock traded hands, compared to its average volume of 1,051,633. The company's 50-day simple moving average is $263.06 and its 200-day simple moving average is $250.21. The firm has a market cap of $81.65 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 4.25 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $277.94. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

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, topping analysts' consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion during the quarter, compared to analysts' expectations 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 for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $2.55 earnings per share. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed 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. This represents a $6.00 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works's dividend payout ratio is presently 51.90%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ITW. Barclays upped 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. Robert W. Baird increased their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Stifel Nicolaus raised their price target on Illinois Tool Works from $260.00 to $262.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. StockNews.com raised Illinois Tool Works from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Finally, Argus upgraded shares of Illinois Tool Works to a "strong-buy" rating in a research report on Wednesday, July 31st. Four investment 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 company. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of "Hold" and an average target price of $257.30.

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.