Swedbank AB Has $23.07 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Swedbank AB raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,015 shares of the industrial products company’s stock after purchasing an additional 1,768 shares during the period. Swedbank AB’s holdings in Illinois Tool Works were worth $23,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Nikulski Financial Inc. boosted its stake in Illinois Tool Works by 3.6% in the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after acquiring an additional 39 shares during the last quarter. Steele Capital Management Inc. boosted its position in shares of Illinois Tool Works by 4.9% in the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 40 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of Illinois Tool Works by 2.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after purchasing an additional 40 shares during the period. Sigma Planning Corp increased its holdings in Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after purchasing an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. lifted its stake in Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after buying an additional 41 shares during the period. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.9 %

NYSE ITW opened at $276.37 on Tuesday. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $277.94. 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 stock’s 50 day moving average price is $262.63 and its two-hundred day moving average price is $250.02. The stock has a market capitalization of $81.61 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 4.25 and a beta of 1.10.

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, topping 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 business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the company posted $2.55 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. As a group, analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced 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 dividend payout ratio is currently 51.90%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ITW shares. JPMorgan Chase & Co. upped 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. 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 report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Barclays raised their price objective on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Finally, Robert W. Baird boosted their target price 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. Four investment analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works currently 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.