2,898 Shares in Illinois Tool Works Inc. (NYSE:ITW) Acquired by Tudor Financial Inc.

Tudor Financial Inc. purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,898 shares of the industrial products company's stock, valued at approximately $759,000.

Several other hedge funds also recently made changes to their positions in the company. Diversified Trust Co bought a new stake in Illinois Tool Works in the second quarter worth $343,000. ORG Partners LLC lifted its holdings in Illinois Tool Works by 606.1% in the second quarter. ORG Partners LLC now owns 1,504 shares of the industrial products company's stock valued at $352,000 after acquiring an additional 1,291 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Illinois Tool Works by 4.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 38,545 shares of the industrial products company's stock valued at $9,134,000 after acquiring an additional 1,624 shares during the period. 180 Wealth Advisors LLC lifted its holdings in Illinois Tool Works by 52.5% in the second quarter. 180 Wealth Advisors LLC now owns 1,310 shares of the industrial products company's stock valued at $315,000 after acquiring an additional 451 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Illinois Tool Works in the second quarter worth about $214,000. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ITW shares. Barclays raised Illinois Tool Works from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $230.00 to $270.00 in a research note on Thursday, December 5th. Citigroup lifted their target price on Illinois Tool Works from $266.00 to $279.00 and gave the company a "neutral" rating in a research note on Monday. StockNews.com raised Illinois Tool Works from a "hold" rating to a "buy" rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their target price on Illinois Tool Works from $262.00 to $268.00 and gave the company a "hold" rating in a research note on Wednesday. Finally, Evercore ISI downgraded 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 note on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $267.90.

Illinois Tool Works Price Performance

NYSE ITW traded up $0.16 during trading on Thursday, hitting $273.12. 554,843 shares of the stock traded hands, compared to its average volume of 1,037,073. The company has a market capitalization of $80.65 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 4.24 and a beta of 1.10. The firm has a 50-day simple moving average of $266.67 and a 200-day simple moving average of $252.31. 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 12-month low of $232.77 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS 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 analysts' expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company's quarterly 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. As a group, analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, December 31st. 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.