Geode Capital Management LLC Acquires 167,422 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Geode Capital Management LLC increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,292,268 shares of the industrial products company’s stock after acquiring an additional 167,422 shares during the quarter. Geode Capital Management LLC owned about 2.13% of Illinois Tool Works worth $1,645,972,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Nikulski Financial Inc. increased its position in Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after acquiring an additional 39 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its position in 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 acquiring an additional 40 shares during the period. Sigma Planning Corp increased its holdings in Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after buying an additional 41 shares during the period. Harbour Investments Inc. increased its holdings in Illinois Tool Works by 1.1% in the 3rd 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. Finally, Procyon Advisors LLC increased its holdings in Illinois Tool Works by 2.7% in the 3rd quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock valued at $422,000 after buying an additional 43 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Down 0.1 %

NYSE:ITW opened at $273.79 on Wednesday. The firm’s 50 day simple moving average is $266.20 and its 200 day simple moving average is $251.93. 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 one year low of $232.77 and a one year high of $279.13. The company has a market cap of $80.85 billion, a PE ratio of 23.68, a P/E/G ratio of 4.24 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted 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 for the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the company earned $2.55 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm 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 dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.19%. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Analyst Ratings Changes

Several research firms have commented on ITW. Citigroup raised their target price on shares of Illinois Tool Works from $266.00 to $279.00 and gave the company a “neutral” rating in a report on Monday. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company raised their target price 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. Jefferies Financial Group raised their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $267.30.

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.