Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 11.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,353 shares of the industrial products company’s stock after acquiring an additional 5,489 shares during the period. Van ECK Associates Corp’s holdings in Illinois Tool Works were worth $14,188,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Fairscale Capital LLC acquired a new stake in Illinois Tool Works in the second quarter valued at $30,000. Financial Connections Group Inc. acquired a new stake in Illinois Tool Works in the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works during the 3rd quarter valued at about $35,000. Meeder Asset Management Inc. raised its position 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 acquiring an additional 115 shares during the last quarter. Finally, Valued Wealth Advisors LLC lifted its holdings in shares of Illinois Tool Works by 2,162.5% in the second quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $266.43 on Wednesday. Illinois Tool Works Inc. has a 1 year low of $227.66 and a 1 year high of $271.15. 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 firm has a 50 day moving average price of $256.24 and a 200 day moving average price of $247.61. The company has a market cap of $78.68 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 3.84 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data 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. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.55 EPS. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.75 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.25%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of recent research reports. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. 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 report on Thursday, October 31st. Barclays lifted their price objective on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus lifted their price target 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. Three analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $256.40.

Illinois Tool Works 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.