L. Roy Papp & Associates LLP bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 817 shares of the industrial products company’s stock, valued at approximately $214,000.
A number of other large investors have also modified their holdings of ITW. PEAK6 Investments LLC grew its stake in Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 140 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Illinois Tool Works in the first quarter valued at approximately $1,147,000. Norden Group LLC lifted its position in Illinois Tool Works by 1,889.1% during the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after buying an additional 25,144 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Illinois Tool Works by 78.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock valued at $9,907,000 after buying an additional 16,216 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of Illinois Tool Works by 7.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock worth $37,999,000 after acquiring an additional 9,825 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.
Illinois Tool Works Stock Down 0.6 %
Shares of ITW stock traded down $1.45 during trading on Friday, reaching $254.08. The company’s stock had a trading volume of 730,755 shares, compared to its average volume of 727,109. Illinois Tool Works Inc. has a 1-year low of $221.82 and a 1-year high of $271.15. The stock’s 50-day moving average price is $254.08 and its 200 day moving average price is $247.23. The company has a market capitalization of $75.82 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 4.10 and a beta of 1.10. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92.
Illinois Tool Works Dividend Announcement
The firm 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 $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.36%. Illinois Tool Works’s payout ratio is currently 59.17%.
Analyst Ratings Changes
A number of equities analysts have commented on ITW shares. JPMorgan Chase & Co. lifted their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Barclays reduced their target price on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 31st. Stifel Nicolaus increased their price target on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, Jefferies Financial Group lowered their target price on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $255.44.
Get Our Latest Stock Report on ITW
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.
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