Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Stephens Inc. AR

Stephens Inc. AR lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,185 shares of the industrial products company’s stock after acquiring an additional 885 shares during the period. Stephens Inc. AR’s holdings in Illinois Tool Works were worth $4,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nikulski Financial Inc. raised its holdings in Illinois Tool Works by 3.6% in the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after buying an additional 39 shares during the period. Steele Capital Management Inc. raised its stake in shares of Illinois Tool Works by 4.9% in the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock valued at $206,000 after acquiring an additional 40 shares during the period. EP Wealth Advisors LLC lifted its holdings in shares of Illinois Tool Works by 1.0% in the 1st quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock worth $1,178,000 after acquiring an additional 42 shares during the last quarter. Procyon Advisors LLC lifted its holdings in shares of Illinois Tool Works by 2.7% in the 3rd quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock worth $422,000 after acquiring an additional 43 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its position in shares of Illinois Tool Works by 3.0% during the 1st quarter. Proficio Capital Partners LLC now owns 1,490 shares of the industrial products company’s stock worth $400,000 after purchasing an additional 44 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.7 %

NYSE ITW opened at $263.08 on Friday. Illinois Tool Works Inc. has a 52 week low of $225.88 and a 52 week high of $271.15. The firm has a 50 day moving average of $255.59 and a two-hundred day moving average of $247.41. The company has a quick ratio of 0.92, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $77.69 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 3.97 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the company posted $2.55 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.63 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.28%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s payout ratio is 51.90%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ITW. Jefferies Financial Group decreased their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Truist Financial raised their target price on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird upped their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $256.40.

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.