Great Lakes Retirement Inc. Has $1.53 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Great Lakes Retirement Inc. increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,833 shares of the industrial products company’s stock after purchasing an additional 122 shares during the period. Great Lakes Retirement Inc.’s holdings in Illinois Tool Works were worth $1,529,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. PEAK6 Investments LLC grew its holdings in shares of Illinois Tool Works by 17.5% in the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 140 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Illinois Tool Works during the first quarter worth $1,147,000. Norden Group LLC raised its position in Illinois Tool Works by 1,889.1% during the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after acquiring an additional 25,144 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Illinois Tool Works by 78.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock valued at $9,907,000 after acquiring an additional 16,216 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of Illinois Tool Works by 7.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock worth $37,999,000 after purchasing an additional 9,825 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.3 %

NYSE ITW opened at $256.28 on Thursday. The business’s fifty day moving average is $253.53 and its 200 day moving average is $247.33. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The company has a market cap of $76.47 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17.

Illinois Tool Works (NYSE:ITW) last released its quarterly 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 the consensus estimate of $4.08 billion. During the same quarter last year, the firm earned $2.41 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. Illinois Tool Works’s dividend payout ratio is 59.17%.

Analyst Ratings Changes

A number of analysts have recently issued reports on ITW shares. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Jefferies Financial Group cut their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note 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 issued a strong buy rating to the company. According to MarketBeat, Illinois Tool Works has an average rating of “Hold” and an average price target 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.