Aljian Capital Management LLC Increases Position in Illinois Tool Works Inc. (NYSE:ITW)

Aljian Capital Management LLC increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.3% in the third quarter, HoldingsChannel.com reports. The fund owned 4,039 shares of the industrial products company’s stock after buying an additional 90 shares during the period. Aljian Capital Management LLC’s holdings in Illinois Tool Works were worth $1,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ITW. Fairscale Capital LLC acquired a new stake in shares of Illinois Tool Works during the second quarter worth about $30,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works in the 3rd quarter valued at $32,000. Financial Connections Group Inc. acquired a new stake in shares of Illinois Tool Works in the second quarter worth $30,000. Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works during the third quarter worth $35,000. Finally, Meeder Asset Management Inc. lifted its position in Illinois Tool Works by 261.4% during the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ITW. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price target on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Barclays increased their price target on shares of Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $257.30.

Illinois Tool Works Stock Up 0.3 %

ITW opened at $270.62 on Monday. The company has a market cap of $79.91 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 4.19 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $277.58. The company has a 50-day moving average price of $260.09 and a 200 day moving average price of $248.98. 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 (NYSE:ITW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.55 earnings per share. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

About Illinois Tool Works

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.