First Business Financial Services Inc. acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,287 shares of the industrial products company’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ITW. Hexavest Inc. purchased a new position in Illinois Tool Works in the second quarter valued at approximately $26,000. D Orazio & Associates Inc. purchased a new stake in shares of Illinois Tool Works during the third quarter worth $28,000. Asset Dedication LLC lifted its position in shares of Illinois Tool Works by 105.3% during the second quarter. Asset Dedication LLC now owns 195 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Strategic Blueprint LLC purchased a new stake in shares of Illinois Tool Works during the third quarter worth $31,000. Finally, Garrett Wealth Advisory Group LLC purchased a new stake in shares of Illinois Tool Works during the third quarter worth $33,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Several research firms have issued reports on ITW. Wells Fargo & Co increased their target price on Illinois Tool Works from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Goldman Sachs Group downgraded Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 target price on the stock. in a research report on Monday, September 23rd. They noted that the move was a valuation call. Zacks Investment Research downgraded Illinois Tool Works from a “hold” rating to a “sell” rating and set a $180.00 target price on the stock. in a research report on Monday, October 28th. Argus set a $180.00 target price on Illinois Tool Works and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Credit Suisse Group increased their target price on Illinois Tool Works from $144.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Illinois Tool Works currently has an average rating of “Hold” and an average price target of $150.57.

In other news, EVP Michael R. Zimmerman sold 6,600 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $172.43, for a total value of $1,138,038.00. Following the transaction, the executive vice president now owns 13,590 shares of the company’s stock, valued at $2,343,323.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Christopher A. O’herlihy sold 37,301 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.69, for a total transaction of $6,404,208.69. Following the completion of the transaction, the insider now directly owns 65,674 shares in the company, valued at approximately $11,275,569.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 346,180 shares of company stock worth $57,725,646. Insiders own 0.87% of the company’s stock.

Shares of NYSE:ITW traded down $0.10 during trading on Friday, hitting $176.41. 995,797 shares of the company were exchanged, compared to its average volume of 1,318,047. The company has a market cap of $56.63 billion, a PE ratio of 23.21, a P/E/G ratio of 2.99 and a beta of 1.22. Illinois Tool Works Inc. has a 52-week low of $117.75 and a 52-week high of $179.29. The stock has a 50 day moving average of $160.07 and a 200 day moving average of $153.13. The company has a debt-to-equity ratio of 2.57, a current ratio of 2.81 and a quick ratio of 2.27.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, October 25th. The industrial products company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.10. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Illinois Tool Works had a net margin of 17.49% and a return on equity of 80.38%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.76 earnings per share. Sell-side analysts forecast that Illinois Tool Works Inc. will post 7.7 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $1.07 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $4.28 annualized dividend and a dividend yield of 2.43%. Illinois Tool Works’s payout ratio is currently 56.32%.

Illinois Tool Works Company Profile

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.

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

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