Community Bank & Trust Waco Texas Buys New Shares in Illinois Tool Works Inc. (NYSE:ITW)

Community Bank & Trust Waco Texas bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 909 shares of the industrial products company’s stock, valued at approximately $238,000.

A number of other institutional investors have also recently bought and sold shares of ITW. Financial Connections Group Inc. purchased a new stake in Illinois Tool Works in the second quarter valued at approximately $30,000. Fairscale Capital LLC purchased a new stake in Illinois Tool Works during the second quarter worth approximately $30,000. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works during the third quarter worth approximately $32,000. Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works during the third quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. grew its stake 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 worth $38,000 after buying an additional 115 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on ITW. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Barclays boosted their price objective on shares of Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $246.00 to $255.00 in a research report on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $257.30.

Illinois Tool Works Trading Down 1.1 %

ITW opened at $271.20 on Wednesday. The stock has a market capitalization of $80.09 billion, a PE ratio of 23.46, a P/E/G ratio of 4.25 and a beta of 1.10. The firm’s fifty day moving average price is $258.03 and its 200 day moving average price is $248.27. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a 12-month low of $231.21 and a 12-month high of $277.58.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the firm earned $2.55 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.21%. Illinois Tool Works’s dividend payout ratio is currently 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.