Crestmont Private Wealth LLC Purchases 134 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Crestmont Private Wealth LLC raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.5% in the 3rd quarter, Holdings Channel reports. The firm owned 2,549 shares of the industrial products company’s stock after buying an additional 134 shares during the quarter. Illinois Tool Works accounts for 0.3% of Crestmont Private Wealth LLC’s holdings, making the stock its 22nd largest position. Crestmont Private Wealth LLC’s holdings in Illinois Tool Works were worth $668,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Confluence Investment Management LLC purchased a new stake in Illinois Tool Works in the first quarter valued at approximately $65,747,000. AXA S.A. increased its holdings in shares of Illinois Tool Works by 242.3% in the second quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock worth $80,888,000 after buying an additional 241,618 shares during the period. Guinness Asset Management LTD increased its stake in shares of Illinois Tool Works by 30.7% in the second quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company’s stock worth $181,926,000 after buying an additional 180,458 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Illinois Tool Works by 9.6% in 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 purchasing an additional 133,853 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Illinois Tool Works by 2,334.0% during the 1st quarter. SG Americas Securities LLC now owns 127,152 shares of the industrial products company’s stock valued at $34,119,000 after purchasing an additional 121,928 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ITW. Argus raised Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus reduced their target price on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Barclays dropped their price objective on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 31st. Jefferies Financial Group decreased their target price on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. lifted 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. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $255.22.

Illinois Tool Works Trading Up 1.5 %

Shares of ITW opened at $260.59 on Friday. The company’s fifty day moving average is $250.13 and its 200 day moving average is $247.65. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. The stock has a market capitalization of $77.37 billion, a PE ratio of 25.55, a P/E/G ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a fifty-two week low of $217.50 and a fifty-two week high of $271.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share 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 business’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.41 earnings per share. 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. The ex-dividend date was Monday, September 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.30%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio (DPR) is currently 58.82%.

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.