Dimensional Fund Advisors LP boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 855,289 shares of the industrial products company’s stock after acquiring an additional 4,005 shares during the period. Dimensional Fund Advisors LP owned 0.26% of Illinois Tool Works worth $120,702,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Illinois Tool Works by 2.5% during the 3rd quarter. BlackRock Inc. now owns 21,290,319 shares of the industrial products company’s stock worth $3,004,489,000 after acquiring an additional 528,550 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Illinois Tool Works by 25.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,912,686 shares of the industrial products company’s stock worth $975,518,000 after acquiring an additional 1,401,794 shares during the period. Bank of America Corp DE grew its holdings in Illinois Tool Works by 1.6% during the 2nd quarter. Bank of America Corp DE now owns 5,875,087 shares of the industrial products company’s stock worth $813,935,000 after acquiring an additional 93,269 shares during the period. JPMorgan Chase & Co. grew its holdings in Illinois Tool Works by 4.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,849,090 shares of the industrial products company’s stock worth $825,423,000 after acquiring an additional 274,579 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Illinois Tool Works by 20.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,803,640 shares of the industrial products company’s stock worth $677,888,000 after acquiring an additional 830,998 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on the stock. Robert W. Baird set a $130.00 target price on shares of Illinois Tool Works and gave the stock a “hold” rating in a report on Wednesday, October 24th. Zacks Investment Research raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. Wells Fargo & Co set a $145.00 target price on shares of Illinois Tool Works and gave the stock a “buy” rating in a report on Thursday, October 25th. Credit Suisse Group reaffirmed a “hold” rating and set a $131.00 target price on shares of Illinois Tool Works in a report on Friday. Finally, Seaport Global Securities lowered shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $170.00 to $132.00 in a report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $147.69.
Shares of ITW stock opened at $129.47 on Friday. Illinois Tool Works Inc. has a 12-month low of $119.38 and a 12-month high of $179.07. The firm has a market capitalization of $44.05 billion, a PE ratio of 19.65, a PEG ratio of 1.76 and a beta of 1.28. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.62 and a quick ratio of 1.26.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.02. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the business earned $1.71 EPS. The firm’s revenue was down .1% on a year-over-year basis. Equities analysts expect that Illinois Tool Works Inc. will post 7.6 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Monday, December 31st will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, December 28th. Illinois Tool Works’s dividend payout ratio (DPR) is 60.70%.
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Illinois Tool Works Company Profile
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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