Fifth Third Wealth Advisors LLC Has $1.27 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Fifth Third Wealth Advisors LLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,857 shares of the industrial products company’s stock after selling 39 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Illinois Tool Works were worth $1,273,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Capital Research Global Investors boosted its stake in shares of 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 worth $1,171,006,000 after acquiring an additional 51,654 shares in the last quarter. Legal & General Group Plc raised its stake in shares of 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 acquiring an additional 62,645 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Illinois Tool Works by 9.6% in 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 grew its holdings in Illinois Tool Works by 4.6% during 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 last quarter. Finally, ProShare Advisors LLC raised its position in shares of Illinois Tool Works by 7.3% in the second 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 period. 79.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on ITW shares. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Robert W. Baird raised their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $257.30.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $266.46 on Wednesday. The stock’s fifty day simple moving average is $260.94 and its 200 day simple moving average is $249.34. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $277.58. The firm has a market cap of $78.69 billion, a price-to-earnings ratio of 23.05, a P/E/G ratio of 4.19 and a beta of 1.10. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

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

Illinois Tool Works Announces Dividend

The company 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 dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.25%. Illinois Tool Works’s payout ratio is currently 51.90%.

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.