Fisher Asset Management LLC Grows Position in Illinois Tool Works Inc. (NYSE:ITW)

Fisher Asset Management LLC lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,347,326 shares of the industrial products company’s stock after purchasing an additional 135,023 shares during the quarter. Fisher Asset Management LLC’s holdings in Illinois Tool Works were worth $877,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. PEAK6 Investments LLC lifted its holdings in shares of Illinois Tool Works by 17.5% during the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 140 shares during the period. Ascent Group LLC raised its holdings in shares of Illinois Tool Works by 12.4% during the first quarter. Ascent Group LLC now owns 3,580 shares of the industrial products company’s stock worth $961,000 after purchasing an additional 394 shares during the last quarter. Waverly Advisors LLC grew its position in Illinois Tool Works by 484.4% during the 1st quarter. Waverly Advisors LLC now owns 13,009 shares of the industrial products company’s stock worth $3,491,000 after purchasing an additional 10,783 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Illinois Tool Works by 30.2% in the first quarter. Janus Henderson Group PLC now owns 51,969 shares of the industrial products company’s stock worth $13,945,000 after buying an additional 12,051 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in Illinois Tool Works by 10.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 10,930 shares of the industrial products company’s stock valued at $2,933,000 after acquiring an additional 1,017 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 1.5 %

ITW opened at $273.95 on Monday. The stock has a market capitalization of $80.90 billion, a PE ratio of 23.70, a P/E/G ratio of 4.25 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $277.58. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The business’s 50 day moving average price is $262.20 and its 200 day moving average price is $249.84.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping 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 company’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.55 EPS. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Analysts Set New Price Targets

ITW has been the topic of several recent analyst reports. Stifel Nicolaus increased their target price 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. Robert W. Baird raised their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Argus raised Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price target for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $257.30.

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.