Kohmann Bosshard Financial Services LLC Invests $216,000 in Illinois Tool Works Inc. (NYSE:ITW)

Kohmann Bosshard Financial Services LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 826 shares of the industrial products company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ITW. Financial Connections Group Inc. acquired a new position in Illinois Tool Works during the 2nd quarter worth about $30,000. Fairscale Capital LLC purchased a new position in Illinois Tool Works in the second quarter valued at approximately $30,000. Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works during the 1st quarter worth $34,000. Meeder Asset Management Inc. increased its position in Illinois Tool Works by 261.4% during the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after buying an additional 115 shares during the period. Finally, Valued Wealth Advisors LLC grew its position in Illinois Tool Works by 2,162.5% during the 2nd quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 173 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ITW has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Truist Financial lifted their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI decreased 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 19th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $255.44.

Illinois Tool Works Stock Up 0.1 %

ITW opened at $261.03 on Friday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. Illinois Tool Works Inc. has a 1 year low of $217.50 and a 1 year high of $271.15. The firm has a 50 day moving average price of $252.37 and a 200 day moving average price of $247.56. The company has a market cap of $77.89 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the business earned $2.41 EPS. Illinois Tool Works’s quarterly revenue was down 1.2% compared to the same quarter last year. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.30%. Illinois Tool Works’s payout ratio is currently 59.17%.

Illinois Tool Works Profile

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 & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.