Wolverine Asset Management LLC Invests $1.18 Million in Illinois Tool Works Inc. (NYSE:ITW)

Wolverine Asset Management LLC acquired a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,500 shares of the industrial products company's stock, valued at approximately $1,179,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its position in Illinois Tool Works by 26,088.4% in the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company's stock worth $847,610,000 after acquiring an additional 322,192 shares in the last quarter. AXA S.A. raised its holdings in shares of Illinois Tool Works by 242.3% in the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company's stock worth $80,888,000 after purchasing an additional 241,618 shares in the last quarter. Guinness Asset Management LTD lifted its stake in Illinois Tool Works by 30.7% during the second quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company's stock valued at $181,926,000 after purchasing an additional 180,458 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Illinois Tool Works by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company's stock worth $361,998,000 after buying an additional 133,853 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Illinois Tool Works by 75.1% in the second quarter. Renaissance Technologies LLC now owns 258,000 shares of the industrial products company's stock worth $61,136,000 after buying an additional 110,673 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Up 0.6 %

Shares of NYSE ITW traded up $1.76 during mid-day trading on Wednesday, reaching $272.96. The company had a trading volume of 1,212,931 shares, compared to its average volume of 1,059,048. The stock has a market capitalization of $80.61 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 4.21 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $277.58. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The stock's 50 day moving average is $258.46 and its 200-day moving average is $248.44.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.55 earnings per share. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. 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 is 51.90%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ITW. Barclays lifted their target price on Illinois Tool Works from $215.00 to $230.00 and gave the stock an "underweight" rating in a report on Friday, November 1st. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Robert W. Baird raised their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, Argus upgraded shares of Illinois Tool Works to a "strong-buy" rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works has an average rating of "Hold" and an average price target of $257.30.

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.