Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. decreased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.8% in the 3rd quarter, Holdings Channel reports. The firm owned 4,165 shares of the industrial products company’s stock after selling 164 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Illinois Tool Works were worth $1,092,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fairscale Capital LLC acquired a new stake in shares of Illinois Tool Works during the 2nd quarter valued at approximately $30,000. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works during the third quarter worth $32,000. Financial Connections Group Inc. acquired a new stake in Illinois Tool Works in the second quarter valued at $30,000. Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works in the third quarter valued at $35,000. Finally, Meeder Asset Management Inc. raised its stake in shares of Illinois Tool Works by 261.4% during the 2nd 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 last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 1.5 %

Shares of NYSE:ITW opened at $273.94 on Friday. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $277.58. The stock’s 50-day moving average price is $262.20 and its two-hundred day moving average price is $249.80. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The firm has a market cap of $80.89 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 4.13 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. Illinois Tool Works’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.55 earnings per share. On average, research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current 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 issued a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.19%. Illinois Tool Works’s payout ratio is 51.90%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ITW. Robert W. Baird increased their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Truist Financial increased 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. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Argus raised Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $257.30.

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.