Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Richard C. Young & CO. LTD.

Richard C. Young & CO. LTD. decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 50,653 shares of the industrial products company’s stock after selling 827 shares during the quarter. Richard C. Young & CO. LTD.’s holdings in Illinois Tool Works were worth $13,275,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its holdings in shares of Illinois Tool Works by 1.2% in the first 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 acquiring an additional 51,654 shares during the period. Legal & General Group Plc raised its position in Illinois Tool Works by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after purchasing an additional 62,645 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Illinois Tool Works by 9.6% during the 2nd 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. Guinness Asset Management LTD increased its stake in Illinois Tool Works by 4.6% in the third quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock valued at $210,447,000 after purchasing an additional 35,145 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of Illinois Tool Works by 7.3% during the second quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock worth $176,047,000 after buying an additional 50,753 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ITW. Argus raised Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Barclays increased their price target on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their target price for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $257.30.

Illinois Tool Works Trading Up 0.3 %

Shares of ITW opened at $270.62 on Monday. The stock’s fifty day simple moving average is $260.09 and its 200 day simple moving average is $248.98. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $277.58. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $79.91 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 4.19 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.55 EPS. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.22%. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

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.