Mitchell & Pahl Private Wealth LLC Purchases 260 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Mitchell & Pahl Private Wealth LLC raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 7,525 shares of the industrial products company’s stock after acquiring an additional 260 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Illinois Tool Works were worth $1,972,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITW. Capital Research Global Investors increased its stake in Illinois Tool Works by 1.2% during the 1st quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock valued at $1,171,006,000 after purchasing an additional 51,654 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Illinois Tool Works by 2.4% during the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after buying an additional 62,645 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Illinois Tool Works by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock worth $361,998,000 after acquiring an additional 133,853 shares in the last quarter. Guinness Asset Management LTD raised its holdings in shares of Illinois Tool Works by 4.6% in the 3rd quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock worth $210,447,000 after acquiring an additional 35,145 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Illinois Tool Works by 7.3% during the 2nd quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock valued at $176,047,000 after purchasing an additional 50,753 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ITW. Argus raised Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped 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. Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, Evercore ISI reduced 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 report on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $255.44.

Illinois Tool Works Stock Performance

ITW traded down $1.41 during midday trading on Thursday, reaching $259.42. The company had a trading volume of 174,615 shares, compared to its average volume of 1,069,692. Illinois Tool Works Inc. has a 12-month low of $217.50 and a 12-month high of $271.15. The business has a 50-day moving average price of $251.52 and a two-hundred day moving average price of $247.50. The stock has a market cap of $77.41 billion, a PE ratio of 25.72, 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 quick ratio of 0.92 and a current ratio of 1.30.

Illinois Tool Works (NYSE:ITW) last posted 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. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the business earned $2.41 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, sell-side 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 company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $1.50 per share. This is an increase 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 dividend yield of 2.31%. Illinois Tool Works’s dividend 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.