794 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by Trust Co of Kansas

Trust Co of Kansas acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 794 shares of the industrial products company’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Steele Capital Management Inc. boosted its stake in Illinois Tool Works by 4.9% during the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after buying an additional 40 shares during the period. EP Wealth Advisors LLC boosted its stake in Illinois Tool Works by 1.0% during the first quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock worth $1,178,000 after buying an additional 42 shares during the period. Proficio Capital Partners LLC boosted its stake in Illinois Tool Works by 3.0% during the first quarter. Proficio Capital Partners LLC now owns 1,490 shares of the industrial products company’s stock worth $400,000 after buying an additional 44 shares during the period. Carson Advisory Inc. boosted its stake in Illinois Tool Works by 3.0% during the first quarter. Carson Advisory Inc. now owns 1,552 shares of the industrial products company’s stock worth $417,000 after buying an additional 45 shares during the period. Finally, Trifecta Capital Advisors LLC boosted its stake in Illinois Tool Works by 0.8% during the first quarter. Trifecta Capital Advisors LLC now owns 5,948 shares of the industrial products company’s stock worth $1,596,000 after buying an additional 46 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 0.1 %

ITW stock opened at $255.70 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The company’s 50 day moving average is $249.16 and its two-hundred day moving average is $247.76. The stock has a market cap of $76.30 billion, a P/E ratio of 25.22, a PEG ratio of 4.09 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.41 EPS. Research analysts expect that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.35%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, September 30th. Illinois Tool Works’s payout ratio is presently 59.17%.

Wall Street Analyst Weigh In

ITW has been the subject of several recent research reports. Stifel Nicolaus lowered their price objective on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Jefferies Financial Group lowered their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI lowered their price objective on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Three analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $251.78.

About Illinois Tool Works

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.