Royce & Associates LP boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,500 shares of the industrial products company’s stock after purchasing an additional 2,000 shares during the period. Royce & Associates LP’s holdings in Illinois Tool Works were worth $8,114,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. SRS Capital Advisors Inc. boosted its holdings in Illinois Tool Works by 540.9% during the third quarter. SRS Capital Advisors Inc. now owns 737 shares of the industrial products company’s stock worth $104,000 after buying an additional 622 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Illinois Tool Works by 220.1% during the third quarter. Capital Advisors Ltd. LLC now owns 797 shares of the industrial products company’s stock worth $112,000 after buying an additional 548 shares during the period. Sun Life Financial INC boosted its stake in Illinois Tool Works by 277.2% during the second quarter. Sun Life Financial INC now owns 826 shares of the industrial products company’s stock worth $114,000 after buying an additional 607 shares during the period. Fort L.P. purchased a new position in Illinois Tool Works during the second quarter worth about $117,000. Finally, Valley National Advisers Inc. boosted its stake in Illinois Tool Works by 180.4% during the third quarter. Valley National Advisers Inc. now owns 875 shares of the industrial products company’s stock worth $123,000 after buying an additional 563 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.
ITW opened at $129.47 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $119.38 and a fifty-two week high of $179.07. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.62 and a quick ratio of 1.26. The stock has a market cap of $44.22 billion, a PE ratio of 19.65, a PEG ratio of 1.77 and a beta of 1.28.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.02. Illinois Tool Works had a return on equity of 63.11% and a net margin of 12.69%. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the business earned $1.71 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, research analysts forecast that Illinois Tool Works Inc. will post 7.6 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 10th. Investors of record on Monday, December 31st will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Friday, December 28th. Illinois Tool Works’s payout ratio is 60.70%.
Several analysts recently weighed in on ITW shares. Credit Suisse Group reaffirmed a “hold” rating and issued a $131.00 target price on shares of Illinois Tool Works in a report on Friday. ValuEngine raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. Zacks Investment Research cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. Wells Fargo & Co reiterated a “buy” rating and issued a $150.00 price objective (down from $160.00) on shares of Illinois Tool Works in a research report on Wednesday, October 17th. Finally, Gordon Haskett began coverage on shares of Illinois Tool Works in a research report on Friday, October 12th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $147.69.
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About Illinois Tool Works
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.
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