Mutual of America Capital Management LLC Has $8.72 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Mutual of America Capital Management LLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 33,277 shares of the industrial products company’s stock after selling 983 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Illinois Tool Works were worth $8,721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ITW. Nikulski Financial Inc. raised its holdings in shares of Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after acquiring an additional 39 shares in the last quarter. Steele Capital Management Inc. raised its holdings in shares of Illinois Tool Works by 4.9% during the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 40 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in shares of Illinois Tool Works by 2.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after acquiring an additional 40 shares in the last quarter. Sigma Planning Corp raised its holdings in shares of Illinois Tool Works by 0.9% during the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after acquiring an additional 41 shares in the last quarter. Finally, Harbour Investments Inc. raised its holdings in shares of Illinois Tool Works by 1.1% during the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after acquiring an additional 41 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the subject of several recent research reports. Barclays increased their price objective on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Stifel Nicolaus raised their target price on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. 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, Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their target price for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $257.30.

Illinois Tool Works Trading Down 0.2 %

Shares of NYSE:ITW opened at $270.07 on Tuesday. The company has a market cap of $79.75 billion, a P/E ratio of 23.36, a P/E/G ratio of 4.19 and a beta of 1.10. The stock’s 50-day moving average is $260.56 and its 200-day moving average is $249.18. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $277.58. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

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

Illinois Tool Works Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 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.