Oppenheimer & Co. Inc. owns $3.91M stake in Illinois Tool Works Inc. (NYSE:ITW)

Oppenheimer & Co. Inc. increased its position in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 29.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,489 shares of the industrial products company’s stock after buying an additional 3,732 shares during the period. The holdings of Oppenheimer & Co. Inc. in Illinois Tool Works were worth $3,907,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ITW. Frazier Financial Advisors LLC bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $26,000. Security National Bank bought a new position in Illinois Tool Works in the fourth quarter valued at approximately $28,000. Christopher J. Hasenberg Inc purchased a new position in shares of Illinois Tool Works in the first quarter valued at about $32,000. Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works in the first quarter worth $34,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works in the second quarter valued at $30,000. Institutional investors own 79.77% of the company’s shares.

Analysts on Wall Street are forecasting an increase

A number of equities analysts have issued reports on the company. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Barclays cut their price objective on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company boosted their price target on Illinois Tool Works from $230.00 to $236.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group cut their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Finally, Evercore ISI cut their price objective on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research report on Monday , August 19. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $250.22, according to MarketBeat.

Read our latest analysis of Illinois tool operations

Illinois Tool Works stock performance

Shares of ITW stock opened at $251.75 on Friday. The company has a fifty day moving average price of $244.54 and a two hundred day moving average price of $248.41. Illinois Tool Works Inc. it has a one year low of $217.50 and a one year high of $271.15. The stock has a market cap of $74.74 billion, a P/E ratio of 24.83, a P/E/G ratio of 3.93 and a beta of 1.10. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30, and a quick ratio of 0.92.

Illinois Tool Works (NYSE:ITW – Get Your Free Report ) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. Illinois Tool Works’ revenue fell 1.2 percent year-over-year. In the same period last year, the business posted EPS of $2.41. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works increases dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.50 per share. This is an increase from Illinois Tool Works’ previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, September 30. This represents an annualized dividend of $6.00 and a yield of 2.38%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 55.23%.

Illinois Tool Works Profile

(Free Report)

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 and Measurement and Electronics; Welding; Polymers and fluids; Construction products; and specialty products.

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