Jacobi Capital Management LLC boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 201.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,776 shares of the industrial products company’s stock after buying an additional 1,187 shares during the quarter. Jacobi Capital Management LLC’s holdings in Illinois Tool Works were worth $251,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SRS Capital Advisors Inc. increased its holdings in shares of Illinois Tool Works by 540.9% during the 3rd quarter. SRS Capital Advisors Inc. now owns 737 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 622 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Illinois Tool Works by 220.1% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 797 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 548 shares in the last quarter. Sun Life Financial INC increased its holdings in shares of Illinois Tool Works by 277.2% during the 2nd quarter. Sun Life Financial INC now owns 826 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 607 shares in the last quarter. Fort L.P. purchased a new position in shares of Illinois Tool Works during the 2nd quarter valued at approximately $117,000. Finally, Valley National Advisers Inc. increased its holdings in shares of Illinois Tool Works by 180.4% during the 3rd quarter. Valley National Advisers Inc. now owns 875 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 563 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Shares of NYSE ITW opened at $129.47 on Friday. The firm has a market capitalization of $44.22 billion, a P/E ratio of 19.65, a P/E/G ratio of 1.77 and a beta of 1.28. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 1.71. Illinois Tool Works Inc. has a one year low of $119.38 and a one year high of $179.07.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.88 by $0.02. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.72 billion. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.71 EPS. Equities research analysts expect that Illinois Tool Works Inc. will post 7.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Monday, December 31st will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $4.00 annualized dividend and a yield of 3.09%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 60.70%.

ITW has been the subject of several recent research reports. Seaport Global Securities lowered shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and cut their target price for the company from $170.00 to $132.00 in a report on Thursday, October 25th. ValuEngine lowered shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Zacks Investment Research raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. Credit Suisse Group cut their price target on shares of Illinois Tool Works from $146.00 to $131.00 and set a “neutral” rating for the company in a report on Thursday, October 25th. Finally, Wells Fargo & Co set a $145.00 price target on shares of Illinois Tool Works and gave the stock a “buy” rating in a report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. Illinois Tool Works presently has an average rating of “Hold” and an average price target of $147.69.

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About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

Read More: Earnings Per Share (EPS)

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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