Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Prospera Financial Services Inc

Prospera Financial Services Inc grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,783 shares of the industrial products company’s stock after purchasing an additional 120 shares during the period. Prospera Financial Services Inc’s holdings in Illinois Tool Works were worth $6,498,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Financial Connections Group Inc. acquired a new position in Illinois Tool Works in the second quarter worth approximately $30,000. Fairscale Capital LLC bought a new stake in shares of Illinois Tool Works during the 2nd quarter worth $30,000. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works in the 3rd quarter worth $32,000. Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works during the third quarter worth $35,000. Finally, Meeder Asset Management Inc. lifted its holdings 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 valued at $38,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $266.46 on Wednesday. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $277.58. The stock’s 50-day moving average is $260.94 and its two-hundred day moving average is $249.34. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The firm has a market cap of $78.69 billion, a P/E ratio of 23.05, a PEG ratio of 4.19 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.55 earnings per share. Analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ITW. JPMorgan Chase & Co. boosted their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Robert W. Baird raised 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 note on Thursday, October 31st. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company raised their target price on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $257.30.

Illinois Tool Works Company 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.