Great Valley Advisor Group Inc. Has $1.54 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Great Valley Advisor Group Inc. lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,871 shares of the industrial products company’s stock after selling 436 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Illinois Tool Works were worth $1,539,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ITW. Financial Connections Group Inc. bought a new stake in Illinois Tool Works during the second quarter worth $30,000. Fairscale Capital LLC bought a new stake in shares of Illinois Tool Works in the 2nd quarter valued at about $30,000. Catalyst Capital Advisors LLC acquired a new stake in Illinois Tool Works in the 3rd quarter valued at about $32,000. Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works in the 3rd quarter valued at about $35,000. Finally, Meeder Asset Management Inc. grew its holdings 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 purchasing an additional 115 shares during the period. Institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ITW. Robert W. Baird upped their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their price target 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. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Barclays increased their price objective on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $257.30.

Illinois Tool Works Stock Performance

NYSE ITW opened at $276.37 on Tuesday. The firm has a 50-day moving average price of $262.63 and a two-hundred day moving average price of $250.02. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $277.94. The company has a market capitalization of $81.61 billion, a P/E ratio of 23.91, a P/E/G ratio of 4.25 and a beta of 1.10. 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 issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the company posted $2.55 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors 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 2.17%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s 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.