First Pacific Financial Buys 95 Shares of Illinois Tool Works Inc. (NYSE:ITW)

First Pacific Financial increased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,604 shares of the industrial products company’s stock after buying an additional 95 shares during the period. First Pacific Financial’s holdings in Illinois Tool Works were worth $944,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ITW. SageView Advisory Group LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth $544,000. Nomura Holdings Inc. purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth $1,443,000. Symmetry Partners LLC raised its position in shares of Illinois Tool Works by 20.2% in the first quarter. Symmetry Partners LLC now owns 2,253 shares of the industrial products company’s stock worth $605,000 after buying an additional 378 shares in the last quarter. Somerset Trust Co raised its position in Illinois Tool Works by 2.0% during the first quarter. Somerset Trust Co now owns 18,884 shares of the industrial products company’s stock valued at $5,067,000 after purchasing an additional 366 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Illinois Tool Works by 15.5% during the first quarter. GAMMA Investing LLC now owns 2,964 shares of the industrial products company’s stock valued at $795,000 after purchasing an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

ITW has been the topic of a number of research reports. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Barclays lowered their price target on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 31st. Jefferies Financial Group lowered their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Stifel Nicolaus lowered their price target on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $255.22.

Illinois Tool Works Stock Down 0.1 %

Illinois Tool Works stock traded down $0.15 during trading hours on Tuesday, hitting $261.35. 729,604 shares of the stock traded hands, compared to its average volume of 1,076,308. The firm’s 50-day moving average price is $250.58 and its two-hundred day moving average price is $247.46. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The company has a market cap of $77.99 billion, a PE ratio of 25.82, a PEG ratio of 4.10 and a beta of 1.10. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the business earned $2.41 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. On average, research analysts forecast that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $1.50 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Monday, September 30th. Illinois Tool Works’s payout ratio is presently 59.17%.

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.