Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Ieq Capital LLC

Ieq Capital LLC grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,140 shares of the industrial products company’s stock after purchasing an additional 638 shares during the period. Ieq Capital LLC’s holdings in Illinois Tool Works were worth $5,009,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Frazier Financial Advisors LLC acquired a new position in Illinois Tool Works in the 4th quarter valued at $26,000. Security National Bank purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $28,000. Financial Connections Group Inc. acquired a new position in shares of Illinois Tool Works during the second quarter worth about $30,000. Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works during the first quarter worth about $34,000. Finally, General Partner Inc. acquired a new stake in Illinois Tool Works in the first quarter valued at about $35,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the subject of a number of analyst reports. Argus raised Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Evercore ISI cut their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Barclays reduced their target price on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target 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. Finally, StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $250.22.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $254.32 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. The company has a market capitalization of $75.89 billion, a P/E ratio of 25.08, a price-to-earnings-growth ratio of 3.93 and a beta of 1.10. The firm has a 50-day moving average price of $246.24 and a two-hundred day moving average price of $248.29. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the company posted $2.41 EPS. The company’s revenue was down 1.2% on a year-over-year basis. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $1.50 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, September 30th. Illinois Tool Works’s dividend payout ratio is currently 59.17%.

Illinois Tool Works 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.