Mcdaniel Terry & Co. Has $45.27 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Mcdaniel Terry & Co. grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 172,756 shares of the industrial products company’s stock after acquiring an additional 1,618 shares during the period. Illinois Tool Works comprises 3.8% of Mcdaniel Terry & Co.’s holdings, making the stock its 6th largest holding. Mcdaniel Terry & Co. owned about 0.06% of Illinois Tool Works worth $45,274,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Assenagon Asset Management S.A. raised its stake in Illinois Tool Works by 12.0% during the third quarter. Assenagon Asset Management S.A. now owns 9,332 shares of the industrial products company’s stock worth $2,446,000 after buying an additional 1,000 shares during the last quarter. Pinnacle West Asset Management Inc. raised its stake in Illinois Tool Works by 2.8% during the third quarter. Pinnacle West Asset Management Inc. now owns 2,940 shares of the industrial products company’s stock worth $770,000 after buying an additional 80 shares during the last quarter. Grimes & Company Inc. raised its stake in Illinois Tool Works by 0.5% during the third quarter. Grimes & Company Inc. now owns 9,427 shares of the industrial products company’s stock worth $2,471,000 after buying an additional 49 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in Illinois Tool Works during the third quarter worth $1,225,000. Finally, Great Lakes Retirement Inc. raised its stake in Illinois Tool Works by 2.1% during the third quarter. Great Lakes Retirement Inc. now owns 5,833 shares of the industrial products company’s stock worth $1,529,000 after buying an additional 122 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Barclays reduced their price target on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $255.44.

Illinois Tool Works Stock Down 0.3 %

Illinois Tool Works stock opened at $255.53 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $219.01 and a fifty-two week high of $271.15. The stock has a market cap of $76.25 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The firm’s 50-day simple moving average is $253.53 and its 200 day simple moving average is $247.33. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.41 earnings per share. Research analysts predict that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $1.50 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, September 30th. This represents a $6.00 annualized dividend and a yield of 2.35%. Illinois Tool Works’s payout ratio is currently 59.17%.

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.