Marquette Asset Management LLC Buys New Shares in Illinois Tool Works Inc. (NYSE:ITW)

Marquette Asset Management LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,020 shares of the industrial products company’s stock, valued at approximately $267,000.

Other institutional investors have also recently made changes to their positions in the company. Financial Connections Group Inc. acquired a new position in shares of Illinois Tool Works during the second quarter worth approximately $30,000. Fairscale Capital LLC acquired a new stake in shares of Illinois Tool Works in the 2nd quarter worth about $30,000. Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works during the 1st quarter valued at about $34,000. General Partner Inc. bought a new stake in Illinois Tool Works during the 1st quarter worth approximately $35,000. Finally, Rise Advisors LLC bought a new position in shares of Illinois Tool Works in the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ITW shares. Barclays cut their price objective on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upped their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday. Stifel Nicolaus lowered their target price on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Finally, Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $251.78.

Illinois Tool Works Trading Down 0.1 %

Shares of ITW stock opened at $255.70 on Wednesday. Illinois Tool Works Inc. has a 1 year low of $217.50 and a 1 year high of $271.15. The company’s fifty day simple moving average is $249.16 and its two-hundred day simple moving average is $247.76. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. The stock has a market capitalization of $76.30 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 4.09 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.45 by $0.09. The company had revenue of $4.03 billion during 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%. Illinois Tool Works’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.41 earnings per share. As a group, analysts anticipate that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

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