Lincoln National Corp Purchases 334 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Lincoln National Corp boosted its position in Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,839 shares of the industrial products company’s stock after acquiring an additional 334 shares during the period. Lincoln National Corp’s holdings in Illinois Tool Works were worth $1,235,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ITW. Hexagon Capital Partners LLC bought a new position in Illinois Tool Works during the third quarter worth about $26,000. CNB Bank boosted its holdings in Illinois Tool Works by 723.1% during the second quarter. CNB Bank now owns 214 shares of the industrial products company’s stock worth $39,000 after buying an additional 188 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in Illinois Tool Works by 51.0% during the third quarter. JFS Wealth Advisors LLC now owns 237 shares of the industrial products company’s stock worth $43,000 after buying an additional 80 shares during the last quarter. Orion Capital Management LLC bought a new position in Illinois Tool Works during the third quarter worth about $43,000. Finally, Chilton Capital Management LLC bought a new position in Illinois Tool Works during the second quarter worth about $44,000. Institutional investors own 79.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ITW. Credit Suisse Group raised their target price on Illinois Tool Works from $229.00 to $243.00 and gave the stock an “outperform” rating in a report on Wednesday, October 26th. Wells Fargo & Company raised their price target on Illinois Tool Works from $210.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 19th. Morgan Stanley raised their price target on Illinois Tool Works from $172.00 to $174.00 and gave the stock an “underweight” rating in a research report on Friday, January 6th. Robert W. Baird raised their price target on Illinois Tool Works from $200.00 to $222.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Citigroup raised their price target on Illinois Tool Works from $202.00 to $232.00 and gave the stock a “neutral” rating in a research report on Friday, December 9th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $207.64.

Illinois Tool Works Stock Up 0.1 %

NYSE:ITW opened at $229.35 on Wednesday. The firm has a market capitalization of $70.45 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 3.25 and a beta of 1.11. Illinois Tool Works Inc. has a twelve month low of $173.52 and a twelve month high of $247.00. The stock’s 50 day moving average price is $224.70 and its two-hundred day moving average price is $208.68. The company has a quick ratio of 0.95, a current ratio of 1.41 and a debt-to-equity ratio of 1.97.

Illinois Tool Works (NYSE:ITW – Get Rating) last issued its earnings results on Tuesday, October 25th. The industrial products company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.25 by $0.10. The company had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.90 billion. Illinois Tool Works had a return on equity of 80.65% and a net margin of 17.49%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.02 EPS. Equities research analysts expect that Illinois Tool Works Inc. will post 9.46 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 12th. Investors of record on Friday, December 30th were paid a $1.31 dividend. The ex-dividend date was Thursday, December 29th. This represents a $5.24 annualized dividend and a yield of 2.28%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 59.82%.

Insider Activity at Illinois Tool Works

In related news, Director David Byron Smith, Jr. bought 1,390 shares of the business’s stock in a transaction dated Friday, December 9th. The stock was purchased at an average cost of $221.81 per share, for a total transaction of $308,315.90. Following the transaction, the director now owns 118,994 shares in the company, valued at approximately $26,394,059.14. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.78% of the stock is currently owned by corporate insiders.

Illinois Tool Works Company Profile

(Get Rating)

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.