Empower Advisory Group LLC Acquires 9,716 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Empower Advisory Group LLC grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 335,405 shares of the industrial products company's stock after purchasing an additional 9,716 shares during the period. Empower Advisory Group LLC owned approximately 0.11% of Illinois Tool Works worth $87,899,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Fairscale Capital LLC acquired a new stake in shares of Illinois Tool Works in the 2nd quarter worth approximately $30,000. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter valued at approximately $32,000. Financial Connections Group Inc. purchased a new stake in Illinois Tool Works in the 2nd quarter valued at approximately $30,000. Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. lifted its stake in 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 valued at $38,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ITW. Argus raised Illinois Tool Works to a "strong-buy" rating in a research note on Wednesday, July 31st. Barclays upped their target price 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. Stifel Nicolaus increased their price target on Illinois Tool Works from $260.00 to $262.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Robert W. Baird increased their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company increased their price target 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. Four analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $257.30.

Illinois Tool Works Trading Up 0.5 %

NYSE ITW traded up $1.39 on Wednesday, hitting $272.59. 449,231 shares of the stock were exchanged, compared to its average volume of 1,055,155. The company has a market capitalization of $80.50 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 4.21 and a beta of 1.10. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $277.58. The company's 50-day moving average price is $258.46 and its two-hundred day moving average price is $248.44.

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 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 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 business's revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.55 EPS. Research analysts predict that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.20%. 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.