Prospera Private Wealth LLC Invests $4.73 Million in Illinois Tool Works Inc. (NYSE:ITW)

Prospera Private Wealth LLC acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,054 shares of the industrial products company's stock, valued at approximately $4,731,000.

Several other large investors have also recently modified their holdings of ITW. Nikulski Financial Inc. increased its stake in Illinois Tool Works by 3.6% in the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company's stock worth $290,000 after purchasing an additional 39 shares during the period. Steele Capital Management Inc. raised its holdings in Illinois Tool Works by 4.9% during the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company's stock valued at $206,000 after buying an additional 40 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its position in Illinois Tool Works by 2.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company's stock valued at $423,000 after buying an additional 40 shares during the period. Sigma Planning Corp grew its holdings in Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company's stock worth $1,216,000 after acquiring an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company's stock valued at $957,000 after acquiring an additional 41 shares during the period. Hedge funds and other institutional investors own 79.77% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on ITW shares. JPMorgan Chase & Co. raised their target price on Illinois Tool Works from $267.00 to $270.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Robert W. Baird upped their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Barclays lifted their price target on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an "underweight" rating in a report on Friday, November 1st. Wells Fargo & Company raised their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Finally, Argus upgraded Illinois Tool Works to a "strong-buy" rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $257.30.

Illinois Tool Works Stock Down 0.2 %

Shares of NYSE ITW traded down $0.41 during midday trading on Wednesday, hitting $266.05. The stock had a trading volume of 167,649 shares, compared to its average volume of 1,049,791. The company has a market cap of $78.56 billion, a P/E ratio of 23.05, a PEG ratio of 4.19 and a beta of 1.10. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The business's 50 day moving average is $260.94 and its 200-day moving average is $249.34. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $277.58.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works's revenue 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, analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.26%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works's dividend 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.