Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 762 shares of the industrial products company’s stock after buying an additional 76 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Illinois Tool Works were worth $200,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ITW. Financial Connections Group Inc. purchased a new position in shares of Illinois Tool Works during the second quarter worth about $30,000. Fairscale Capital LLC acquired a new position in Illinois Tool Works during the second quarter worth approximately $30,000. Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works in the first quarter valued at approximately $34,000. Rise Advisors LLC acquired a new stake in shares of Illinois Tool Works in the first quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. grew its position in shares of 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. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $260.83 on Thursday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The company’s fifty day moving average is $251.52 and its two-hundred day moving average is $247.50. The firm has a market capitalization of $77.83 billion, a P/E ratio of 25.72, a PEG ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.09. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. Illinois Tool Works’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $2.41 EPS. Analysts forecast that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.30%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, September 30th. Illinois Tool Works’s dividend payout ratio is presently 59.17%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ITW. Jefferies Financial Group decreased their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Stifel Nicolaus increased 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 note on Wednesday. JPMorgan Chase & Co. upped their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $255.44.

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.