800 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by Dudley Capital Management LLC

Dudley Capital Management LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, Holdings Channel reports. The fund bought 800 shares of the industrial products company’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Consolidated Planning Corp lifted its stake in Illinois Tool Works by 8.7% during the third quarter. Consolidated Planning Corp now owns 1,393 shares of the industrial products company’s stock worth $365,000 after purchasing an additional 112 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Illinois Tool Works by 5.2% during the 3rd quarter. Principal Financial Group Inc. now owns 340,027 shares of the industrial products company’s stock valued at $89,111,000 after buying an additional 16,846 shares in the last quarter. Montecito Bank & Trust lifted its position in Illinois Tool Works by 41.0% in the 3rd quarter. Montecito Bank & Trust now owns 6,300 shares of the industrial products company’s stock worth $1,651,000 after buying an additional 1,832 shares during the last quarter. Jackson Square Capital LLC boosted its stake in Illinois Tool Works by 93.9% in the third quarter. Jackson Square Capital LLC now owns 3,136 shares of the industrial products company’s stock worth $822,000 after buying an additional 1,519 shares in the last quarter. Finally, Graypoint LLC grew its position in Illinois Tool Works by 7.7% during the third quarter. Graypoint LLC now owns 3,248 shares of the industrial products company’s stock valued at $851,000 after acquiring an additional 231 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Down 0.9 %

Shares of NYSE ITW opened at $272.87 on Friday. The firm has a 50-day moving average of $256.78 and a 200 day moving average of $247.80. Illinois Tool Works Inc. has a 1 year low of $227.66 and a 1 year high of $277.58. The stock has a market cap of $80.58 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 3.85 and a beta of 1.10. 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 (NYSE:ITW) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share 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 during the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the company earned $2.55 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 10.75 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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 given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Evercore ISI dropped their price target on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, Barclays boosted their price target on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.