Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 318.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 405,817 shares of the industrial products company's stock after buying an additional 308,935 shares during the quarter. National Bank of Canada FI owned 0.14% of Illinois Tool Works worth $106,352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its stake in Illinois Tool Works by 1.2% in the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company's stock worth $3,277,127,000 after acquiring an additional 149,272 shares in the last quarter. Fisher Asset Management LLC grew its stake in Illinois Tool Works by 4.2% in the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company's stock worth $877,234,000 after purchasing an additional 135,023 shares in the last quarter. Legal & General Group Plc increased its holdings in Illinois Tool Works by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company's stock worth $640,425,000 after purchasing an additional 62,645 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Illinois Tool Works by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company's stock valued at $484,685,000 after purchasing an additional 32,656 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Illinois Tool Works by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company's stock worth $460,533,000 after buying an additional 17,139 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ITW has been the topic of several recent research reports. StockNews.com upgraded shares of Illinois Tool Works from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a report on Friday. Robert W. Baird upped their price objective 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. Wells Fargo & Company lifted their target price on Illinois Tool Works from $236.00 to $250.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. Finally, Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $266.30.

Illinois Tool Works Stock Performance

ITW traded down $1.74 during trading on Friday, reaching $273.53. 536,469 shares of the company's stock were exchanged, compared to its average volume of 813,357. The company's fifty day simple moving average is $265.95 and its 200-day simple moving average is $251.70. The stock has a market capitalization of $80.77 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 4.28 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 1 year low of $232.77 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion for 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 was down 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.55 earnings per share. As a group, research analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share 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 $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 2.19%. Illinois Tool Works's payout ratio is 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.