Quantum Private Wealth LLC Has $268,000 Stake in Illinois Tool Works Inc. (NYSE:ITW)

Quantum Private Wealth LLC decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,022 shares of the industrial products company’s stock after selling 100 shares during the quarter. Quantum Private Wealth LLC’s holdings in Illinois Tool Works were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Fairscale Capital LLC acquired a new stake in shares of Illinois Tool Works during the 2nd quarter worth approximately $30,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 3rd quarter worth approximately $32,000. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works in the 2nd quarter worth $30,000. Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works in the 3rd quarter worth $35,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ITW. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their target price on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Barclays increased their target price on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group cut 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 research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $256.40.

Illinois Tool Works Trading Up 0.2 %

NYSE ITW opened at $273.53 on Friday. The stock has a market capitalization of $80.77 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 3.85 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $227.66 and a one year high of $277.58. 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 business’s fifty day moving average is $256.78 and its 200-day moving average is $247.80.

Illinois Tool Works (NYSE:ITW) last released its earnings results 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 company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.55 EPS. Equities research analysts predict that Illinois Tool Works Inc. will post 10.75 EPS for the current year.

Illinois Tool Works Dividend Announcement

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

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.