Wolverine Asset Management LLC Buys Shares of 4,500 Illinois Tool Works Inc. (NYSE:ITW)

Wolverine Asset Management LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, HoldingsChannel reports. The institutional investor bought 4,500 shares of the industrial products company’s stock, valued at approximately $1,179,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of Illinois Tool Works in the 3rd quarter worth $112,000. Mitchell Mcleod Pugh & Williams Inc. grew its stake in Illinois Tool Works by 2.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 40 shares during the last quarter. Tyler Stone Wealth Management grew its stake in Illinois Tool Works by 100.0% during the 3rd quarter. Tyler Stone Wealth Management now owns 2,358 shares of the industrial products company’s stock valued at $618,000 after purchasing an additional 1,179 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in Illinois Tool Works by 4.1% during the 3rd quarter. Axxcess Wealth Management LLC now owns 13,462 shares of the industrial products company’s stock valued at $3,528,000 after purchasing an additional 531 shares during the last quarter. Finally, Sigma Planning Corp boosted its stake in shares of Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after buying an additional 41 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Down 1.1 %

ITW opened at $271.20 on Wednesday. The business’s 50-day simple moving average is $258.03 and its 200-day simple moving average is $248.27. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a one year low of $231.21 and a one year high of $277.58. The stock has a market capitalization of $80.09 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 4.22 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the company posted $2.55 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. Analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Announces Dividend

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 paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ITW shares. Barclays upped their price target on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Stifel Nicolaus increased their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Robert W. Baird increased their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Evercore ISI lowered their price target on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $256.40.

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.