5,000 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by Jade Capital Advisors LLC

Jade Capital Advisors LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 5,000 shares of the industrial products company’s stock, valued at approximately $1,310,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Steele Capital Management Inc. increased its holdings in shares of Illinois Tool Works by 4.9% in the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 40 shares in the last quarter. EP Wealth Advisors LLC increased its stake in shares of Illinois Tool Works by 1.0% in the 1st quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock valued at $1,178,000 after buying an additional 42 shares during the period. Procyon Advisors LLC raised its position in shares of Illinois Tool Works by 2.7% during the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock worth $422,000 after acquiring an additional 43 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in shares of 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 valued at $400,000 after acquiring an additional 44 shares during the period. Finally, Carson Advisory Inc. boosted its holdings in Illinois Tool Works by 3.0% in the first quarter. Carson Advisory Inc. now owns 1,552 shares of the industrial products company’s stock valued at $417,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 1.0 %

ITW opened at $258.37 on Tuesday. The firm’s fifty day moving average is $252.81 and its two-hundred day moving average is $247.31. The firm has a market cap of $77.10 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. 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 announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.41 earnings per share. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $1.50 dividend. The ex-dividend date was Monday, September 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.32%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s payout ratio is presently 59.17%.

Wall Street Analysts Forecast Growth

ITW has been the subject of several recent research reports. Evercore ISI dropped their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Barclays reduced 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 research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company increased their price target on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and an average target price of $255.44.

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.