Sovran Advisors LLC acquired a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,575 shares of the industrial products company's stock, valued at approximately $398,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its position in shares of Illinois Tool Works by 1,542.1% in the third quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the industrial products company's stock valued at $1,635,000 after acquiring an additional 5,860 shares during the period. Procyon Advisors LLC increased its holdings in shares of Illinois Tool Works by 2.7% during the 3rd quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company's stock worth $422,000 after purchasing an additional 43 shares during the period. Swedbank AB increased its holdings in shares of Illinois Tool Works by 2.0% during the 3rd quarter. Swedbank AB now owns 88,015 shares of the industrial products company's stock worth $23,066,000 after purchasing an additional 1,768 shares during the period. Brady Family Wealth LLC increased its holdings in shares of Illinois Tool Works by 1.4% during the 3rd quarter. Brady Family Wealth LLC now owns 17,726 shares of the industrial products company's stock worth $4,645,000 after purchasing an additional 244 shares during the period. Finally, Lynch & Associates IN grew its position in Illinois Tool Works by 1.0% during the third quarter. Lynch & Associates IN now owns 16,021 shares of the industrial products company's stock worth $4,198,000 after buying an additional 164 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.
Illinois Tool Works Price Performance
NYSE:ITW traded down $2.11 on Friday, reaching $257.98. The stock had a trading volume of 1,013,793 shares, compared to its average volume of 986,927. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $76.18 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The stock has a fifty day moving average price of $258.13 and a 200-day moving average price of $257.71.
Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Research analysts forecast that Illinois Tool Works Inc. will post 10.38 EPS for the current year.
Illinois Tool Works Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.33%. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.
Analyst Ratings Changes
A number of brokerages have commented on ITW. Robert W. Baird raised their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. StockNews.com lowered Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Jefferies Financial Group boosted their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a report on Friday, December 6th. Citigroup lowered their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a report on Monday, January 13th. Finally, Evercore ISI lowered shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and lifted their target price for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $271.00.
Check Out Our Latest Report on Illinois Tool Works
About Illinois Tool Works
(
Free Report)
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.
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