Jacobi Capital Management LLC Purchases 1,187 Shares of Illinois Tool Works Inc. (ITW)

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Jacobi Capital Management LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 201.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,776 shares of the industrial products company’s stock after acquiring an additional 1,187 shares during the quarter. Jacobi Capital Management LLC’s holdings in Illinois Tool Works were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ITW. SRS Capital Advisors Inc. lifted its position in Illinois Tool Works by 540.9% in the third quarter. SRS Capital Advisors Inc. now owns 737 shares of the industrial products company’s stock valued at $104,000 after buying an additional 622 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in Illinois Tool Works by 220.1% in the third quarter. Capital Advisors Ltd. LLC now owns 797 shares of the industrial products company’s stock valued at $112,000 after buying an additional 548 shares during the last quarter. Sun Life Financial INC lifted its position in Illinois Tool Works by 277.2% in the second quarter. Sun Life Financial INC now owns 826 shares of the industrial products company’s stock valued at $114,000 after buying an additional 607 shares during the last quarter. Fort L.P. acquired a new position in Illinois Tool Works in the second quarter valued at about $117,000. Finally, Valley National Advisers Inc. lifted its position in Illinois Tool Works by 180.4% in the third quarter. Valley National Advisers Inc. now owns 875 shares of the industrial products company’s stock valued at $123,000 after buying an additional 563 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:ITW opened at $129.47 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.26 and a current ratio of 1.62. The stock has a market cap of $44.22 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.28. Illinois Tool Works Inc. has a 1 year low of $119.38 and a 1 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 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.02. The company had revenue of $3.61 billion for 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 business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.71 earnings per share. Analysts anticipate that Illinois Tool Works Inc. will post 7.6 EPS for the current fiscal year.

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

ITW has been the topic of a number of recent analyst reports. Citigroup set a $148.00 target price on shares of Illinois Tool Works and gave the company a “buy” rating in a research report on Thursday, October 25th. Morgan Stanley set a $131.00 target price on shares of Illinois Tool Works and gave the company a “hold” rating in a research report on Thursday, October 25th. Zacks Investment Research upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. ValuEngine upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, Deutsche Bank set a $134.00 price target on shares of Illinois Tool Works and gave the stock a “hold” rating in a research note on Thursday, October 25th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $147.69.

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Illinois Tool Works 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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Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).

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

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