Borer Denton & Associates Inc. Has $10.21 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Borer Denton & Associates Inc. lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 38,971 shares of the industrial products company’s stock after buying an additional 410 shares during the period. Illinois Tool Works makes up 3.5% of Borer Denton & Associates Inc.’s investment portfolio, making the stock its 11th biggest position. Borer Denton & Associates Inc.’s holdings in Illinois Tool Works were worth $10,213,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ITW. Legal & General Group Plc lifted its stake in Illinois Tool Works by 2.4% during the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock worth $640,425,000 after purchasing an additional 62,645 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Illinois Tool Works by 9.6% during 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 buying an additional 133,853 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Illinois Tool Works by 0.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,247,066 shares of the industrial products company’s stock worth $326,819,000 after buying an additional 9,563 shares during the last quarter. Guinness Asset Management LTD boosted its stake in Illinois Tool Works by 4.6% in 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 buying an additional 35,145 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in Illinois Tool Works by 7.3% in the second quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock valued at $176,047,000 after acquiring an additional 50,753 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised 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 note on Wednesday, July 31st. Barclays raised their target price 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. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Robert W. Baird raised their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company increased their target price 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. Four research analysts have rated the stock with a sell rating, four have given 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.com, the company has a consensus rating of “Hold” and an average target price of $257.30.

Illinois Tool Works Trading Up 1.5 %

Shares of ITW stock opened at $273.95 on Friday. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year 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. The stock has a market cap of $80.90 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 4.18 and a beta of 1.10. The stock has a 50-day moving average of $262.20 and a 200-day moving average of $249.82.

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

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.19%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.90%.

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.