Advisors Asset Management Inc. Has $12.09 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Advisors Asset Management Inc. decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,140 shares of the industrial products company’s stock after selling 43 shares during the period. Advisors Asset Management Inc.’s holdings in Illinois Tool Works were worth $12,092,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ITW. Fairscale Capital LLC acquired a new stake in shares of Illinois Tool Works during the 2nd quarter worth about $30,000. Catalyst Capital Advisors LLC bought a new position in shares of Illinois Tool Works in the third quarter valued at about $32,000. Financial Connections Group Inc. acquired a new position in Illinois Tool Works during the 2nd quarter worth about $30,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works during the 3rd quarter worth about $35,000. Finally, Meeder Asset Management Inc. increased its position in Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 115 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $266.46 on Wednesday. The firm has a market capitalization of $78.69 billion, a P/E ratio of 23.05, a PEG ratio of 4.19 and a beta of 1.10. The business has a 50-day moving average of $260.94 and a 200-day moving average of $249.34. 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 Inc. has a 1 year low of $232.77 and a 1 year high of $277.58.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.55 earnings per share. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid 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 2.25%. Illinois Tool Works’s payout ratio is 51.90%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ITW. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price target for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Wells Fargo & Company increased their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their price target on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Finally, Argus raised Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $257.30.

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.