Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Chronos Wealth Management LLC

Chronos Wealth Management LLC lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,590 shares of the industrial products company’s stock after purchasing an additional 68 shares during the quarter. Illinois Tool Works comprises approximately 3.0% of Chronos Wealth Management LLC’s portfolio, making the stock its 16th biggest position. Chronos Wealth Management LLC’s holdings in Illinois Tool Works were worth $5,658,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ITW. Capital Research Global Investors increased its position in Illinois Tool Works by 1.2% during the 1st quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock worth $1,171,006,000 after purchasing an additional 51,654 shares during the period. Legal & General Group Plc grew its holdings in Illinois Tool Works by 2.4% during the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock worth $640,425,000 after acquiring an additional 62,645 shares during the period. Dimensional Fund Advisors LP grew its holdings in Illinois Tool Works by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock worth $361,998,000 after acquiring an additional 133,853 shares during the period. Guinness Asset Management LTD raised its position in Illinois Tool Works by 4.6% in the third quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock worth $210,447,000 after acquiring an additional 35,145 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Illinois Tool Works by 7.3% in the second quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock valued at $176,047,000 after acquiring an additional 50,753 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $261.03 on Friday. 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’s fifty day moving average price is $252.37 and its two-hundred day moving average price is $247.56. The stock has a market cap of $77.89 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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. The business 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 business’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.41 earnings per share. On average, analysts forecast that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a dividend of $1.50 per share. The ex-dividend date was Monday, September 30th. This is an increase 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 2.30%. Illinois Tool Works’s payout ratio is 59.17%.

Analyst Ratings Changes

ITW has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Evercore ISI reduced their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Stifel Nicolaus upped their price target on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $255.44.

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.