IHT Wealth Management LLC Acquires 2,242 Shares of Illinois Tool Works Inc. (NYSE:ITW)

IHT Wealth Management LLC raised its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 24.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,434 shares of the industrial products company's stock after acquiring an additional 2,242 shares during the period. IHT Wealth Management LLC's holdings in Illinois Tool Works were worth $2,997,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ITW. Independent Family Office LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter worth approximately $333,000. Investment Management Corp of Ontario increased its position in Illinois Tool Works by 29.8% in the third quarter. Investment Management Corp of Ontario now owns 13,927 shares of the industrial products company's stock worth $3,650,000 after purchasing an additional 3,200 shares during the last quarter. Hilltop Holdings Inc. raised its stake in Illinois Tool Works by 264.1% during the third quarter. Hilltop Holdings Inc. now owns 6,073 shares of the industrial products company's stock valued at $1,591,000 after purchasing an additional 4,405 shares in the last quarter. Arrowroot Family Office LLC bought a new position in Illinois Tool Works during the third quarter valued at $243,000. Finally, Ascent Group LLC lifted its position in Illinois Tool Works by 21.0% during the third quarter. Ascent Group LLC now owns 4,099 shares of the industrial products company's stock valued at $1,074,000 after purchasing an additional 712 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. Robert W. Baird raised their price objective 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. Evercore ISI downgraded Illinois Tool Works from an "in-line" rating to an "underperform" rating and boosted their target price for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, StockNews.com upgraded Illinois Tool Works from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $261.30.

Illinois Tool Works Trading Down 0.2 %

Shares of NYSE:ITW traded down $0.63 on Thursday, hitting $275.27. 716,859 shares of the company's stock were exchanged, compared to its average volume of 1,044,473. The stock has a market capitalization of $81.29 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. 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 business's 50 day simple moving average is $265.76 and its two-hundred day simple moving average is $251.50.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.12. The company had revenue of $3.97 billion during 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 for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $2.55 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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 issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.18%. Illinois Tool Works's payout ratio is currently 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.