LPL Financial LLC Has $117.43 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

LPL Financial LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 448,100 shares of the industrial products company’s stock after buying an additional 28,518 shares during the quarter. LPL Financial LLC’s holdings in Illinois Tool Works were worth $117,434,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fairscale Capital LLC bought a new position in shares of Illinois Tool Works during the 2nd quarter worth about $30,000. Catalyst Capital Advisors LLC bought a new position in shares of Illinois Tool Works during the 3rd quarter worth approximately $32,000. Financial Connections Group Inc. acquired a new stake in Illinois Tool Works in the 2nd quarter valued at $30,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works in the third quarter valued at $35,000. Finally, Meeder Asset Management Inc. raised its stake 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 acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $273.94 on Friday. The stock has a market cap of $80.89 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 4.13 and a beta of 1.10. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $277.58. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The business’s 50-day simple moving average is $262.20 and its 200 day simple moving average is $249.80.

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 the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the company earned $2.55 EPS. Illinois Tool Works’s revenue was down 1.6% on a year-over-year basis. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.90%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ITW shares. 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 report on Thursday, October 31st. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Barclays lifted their price objective on Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Truist Financial increased their target price on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price target for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $257.30.

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.