B. Riley Wealth Advisors Inc. Sells 540 Shares of Illinois Tool Works Inc. (NYSE:ITW)

B. Riley Wealth Advisors Inc. reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,958 shares of the industrial products company’s stock after selling 540 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Illinois Tool Works were worth $2,091,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Financial Connections Group Inc. bought a new position in Illinois Tool Works in the 2nd quarter valued at about $30,000. Fairscale Capital LLC purchased a new position in Illinois Tool Works in the 2nd quarter valued at approximately $30,000. True Wealth Design LLC grew its stake in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter valued at $32,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter valued at $35,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $272.11 on Monday. The company has a market capitalization of $80.35 billion, a PE ratio of 23.54, a P/E/G ratio of 4.23 and a beta of 1.10. The firm has a fifty day simple moving average of $267.20 and a two-hundred day simple moving average of $252.91. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.55 earnings per share. Research analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

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 given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted 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. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Barclays upgraded shares of Illinois Tool Works from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $230.00 to $270.00 in a research report on Thursday, December 5th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Citigroup upped their target price on shares of Illinois Tool Works from $266.00 to $279.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $267.90.

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.