Boston Family Office LLC Has $3.14 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Boston Family Office LLC trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,985 shares of the industrial products company’s stock after selling 145 shares during the period. Boston Family Office LLC’s holdings in Illinois Tool Works were worth $3,141,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. PEAK6 Investments LLC grew its stake in Illinois Tool Works by 17.5% in the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 140 shares in the last quarter. Ascent Group LLC boosted its holdings in Illinois Tool Works by 12.4% in the first quarter. Ascent Group LLC now owns 3,580 shares of the industrial products company’s stock worth $961,000 after purchasing an additional 394 shares in the last quarter. Waverly Advisors LLC increased its position in Illinois Tool Works by 484.4% during the first quarter. Waverly Advisors LLC now owns 13,009 shares of the industrial products company’s stock worth $3,491,000 after buying an additional 10,783 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Illinois Tool Works by 30.2% in the first quarter. Janus Henderson Group PLC now owns 51,969 shares of the industrial products company’s stock worth $13,945,000 after buying an additional 12,051 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Illinois Tool Works by 10.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 10,930 shares of the industrial products company’s stock worth $2,933,000 after acquiring an additional 1,017 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Illinois Tool Works Price Performance

Shares of ITW stock opened at $273.95 on Monday. The stock’s fifty day simple moving average is $262.20 and its 200 day simple moving average is $249.84. 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 $80.90 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 4.25 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 issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the company earned $2.55 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) 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.