PNC Financial Services Group Inc. Buys 9,563 Shares of Illinois Tool Works Inc. (NYSE:ITW)

PNC Financial Services Group Inc. boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,247,066 shares of the industrial products company's stock after purchasing an additional 9,563 shares during the quarter. PNC Financial Services Group Inc. owned about 0.42% of Illinois Tool Works worth $326,819,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Financial Connections Group Inc. purchased a new position in shares of Illinois Tool Works in the second quarter worth $30,000. Fairscale Capital LLC purchased a new stake in Illinois Tool Works in the 2nd quarter worth $30,000. Catalyst Capital Advisors LLC bought a new position in shares of Illinois Tool Works during the 3rd quarter valued at about $32,000. Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works during the 3rd quarter valued at about $35,000. Finally, Meeder Asset Management Inc. grew its position in shares of Illinois Tool Works by 261.4% during the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 115 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Argus raised Illinois Tool Works to a "strong-buy" rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on Illinois Tool Works from $267.00 to $270.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Robert W. Baird boosted their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Evercore ISI lowered shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and increased their price objective for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus lifted their price objective 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. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of "Hold" and a consensus price target of $257.30.

Illinois Tool Works Trading Down 1.3 %

NYSE:ITW traded down $3.60 during mid-day trading on Tuesday, hitting $266.46. 613,268 shares of the stock traded hands, compared to its average volume of 1,053,727. 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 52 week low of $232.77 and a 52 week high of $277.58. The stock has a market capitalization of $78.69 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 4.19 and a beta of 1.10. The firm's 50 day moving average is $260.56 and its two-hundred day moving average is $249.18.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion for the quarter, compared to analysts' expectations of $4.02 billion. During the same quarter in the prior year, the firm posted $2.55 earnings per share. The company's quarterly revenue was down 1.6% on a year-over-year basis. On average, equities research analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share 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. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.25%. Illinois Tool Works's dividend payout ratio (DPR) is 51.90%.

Illinois Tool Works Company 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.