Massachusetts Wealth Management Has $2.01 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Massachusetts Wealth Management grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 6.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,674 shares of the industrial products company’s stock after buying an additional 470 shares during the period. Massachusetts Wealth Management’s holdings in Illinois Tool Works were worth $2,011,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors increased its stake in shares of Illinois Tool Works by 1.2% in the 1st quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock valued at $1,171,006,000 after buying an additional 51,654 shares during the period. Legal & General Group Plc increased its stake in shares of Illinois Tool Works by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after buying an additional 62,645 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Illinois Tool Works by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock worth $361,998,000 after purchasing an additional 133,853 shares during the period. Guinness Asset Management LTD grew its stake in shares of Illinois Tool Works by 4.6% during the third quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock worth $210,447,000 after purchasing an additional 35,145 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Illinois Tool Works by 7.3% during the second quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock worth $176,047,000 after purchasing an additional 50,753 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Wells Fargo & Company lifted their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Barclays decreased their price objective on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group reduced their target price on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $255.44.

Illinois Tool Works Stock Up 0.4 %

Shares of Illinois Tool Works stock traded up $0.93 during trading on Friday, reaching $256.46. The stock had a trading volume of 80,037 shares, compared to its average volume of 1,059,273. The company has a market capitalization of $76.53 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 4.10 and a beta of 1.10. The stock has a fifty day moving average price of $253.53 and a two-hundred day moving average price of $247.33. Illinois Tool Works Inc. has a 52 week low of $221.82 and a 52 week high of $271.15. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.41 earnings per share. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is 59.17%.

Illinois Tool Works 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.