Illinois Tool Works Inc. (NYSE:ITW) Stake Boosted by Quantbot Technologies LP

Quantbot Technologies LP increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 83.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,888 shares of the industrial products company’s stock after purchasing an additional 7,698 shares during the quarter. Quantbot Technologies LP’s holdings in Illinois Tool Works were worth $4,002,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Frazier Financial Advisors LLC purchased a new position in Illinois Tool Works in the 4th quarter worth about $26,000. Security National Bank purchased a new position in Illinois Tool Works in the 4th quarter worth about $28,000. Financial Connections Group Inc. purchased a new position in Illinois Tool Works during the 2nd quarter valued at about $30,000. Christopher J. Hasenberg Inc purchased a new position in Illinois Tool Works during the 1st quarter valued at about $32,000. Finally, Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works during the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their target price 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. Evercore ISI lowered their target price on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Argus raised Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Stifel Nicolaus lowered their target price on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $250.22.

Illinois Tool Works Stock Up 1.3 %

ITW opened at $255.13 on Tuesday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. The business has a 50 day moving average price of $244.96 and a 200 day moving average price of $248.26. The firm has a market cap of $76.13 billion, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 3.93 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.41 EPS. 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 will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.35%. Illinois Tool Works’s payout ratio is currently 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.