Nikulski Financial Inc. Raises Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Nikulski Financial Inc. lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.6% in the third quarter, Holdings Channel reports. The firm owned 1,108 shares of the industrial products company’s stock after buying an additional 39 shares during the period. Nikulski Financial Inc.’s holdings in Illinois Tool Works were worth $290,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ITW. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works in the 2nd quarter worth $30,000. Fairscale Capital LLC bought a new position in Illinois Tool Works during the 2nd quarter worth about $30,000. Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works during the 3rd quarter valued at about $35,000. Meeder Asset Management Inc. raised its holdings in shares of Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 115 shares in the last quarter. Finally, Valued Wealth Advisors LLC lifted its position in shares of Illinois Tool Works by 2,162.5% in 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 period. Institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ITW. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price target on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Evercore ISI dropped their price objective on 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 lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Truist Financial lifted their price objective on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $254.90.

Illinois Tool Works Stock Performance

Shares of NYSE ITW traded down $0.65 during midday trading on Thursday, reaching $263.68. The company had a trading volume of 170,182 shares, compared to its average volume of 1,060,687. The stock has a market cap of $78.29 billion, a P/E ratio of 25.90, a P/E/G ratio of 4.10 and a beta of 1.10. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. Illinois Tool Works Inc. has a 1 year low of $221.82 and a 1 year high of $271.15. The business’s 50-day simple moving average is $254.96 and its 200 day simple moving average is $247.27.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.55 EPS. On average, analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is presently 58.82%.

Illinois Tool Works Company 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.