Sigma Planning Corp Raises Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Sigma Planning Corp lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.9% in the third quarter, Holdings Channel reports. The firm owned 4,639 shares of the industrial products company’s stock after buying an additional 41 shares during the period. Sigma Planning Corp’s holdings in Illinois Tool Works were worth $1,216,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors increased its stake in shares of Illinois Tool Works by 1.2% during the first quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock valued at $1,171,006,000 after buying an additional 51,654 shares during the period. Legal & General Group Plc raised its holdings in shares of Illinois Tool Works by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after purchasing an additional 62,645 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Illinois Tool Works by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock worth $361,998,000 after purchasing an additional 133,853 shares during the period. Guinness Asset Management LTD boosted its stake in shares of Illinois Tool Works by 4.6% during the third quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock valued at $210,447,000 after purchasing an additional 35,145 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Illinois Tool Works by 7.3% during the second quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock valued at $176,047,000 after buying an additional 50,753 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Down 1.1 %

Shares of Illinois Tool Works stock opened at $271.20 on Wednesday. The firm’s 50 day simple moving average is $258.03 and its two-hundred day simple moving average is $248.27. The firm has a market capitalization of $80.09 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 4.22 and a beta of 1.10. Illinois Tool Works Inc. has a 12-month low of $231.21 and a 12-month high of $277.58. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last released its 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 firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the firm earned $2.55 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. Analysts predict that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company 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. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.21%. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

Analyst Ratings Changes

ITW has been the topic of several recent research reports. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Evercore ISI cut their target price on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. JPMorgan Chase & Co. increased their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Robert W. Baird lifted their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company increased their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $256.40.

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.