Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Benjamin Edwards Inc.

Benjamin Edwards Inc. lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 787.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,643 shares of the industrial products company’s stock after purchasing an additional 165,607 shares during the period. Illinois Tool Works comprises about 0.7% of Benjamin Edwards Inc.’s portfolio, making the stock its 28th biggest holding. Benjamin Edwards Inc. owned about 0.06% of Illinois Tool Works worth $48,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter worth about $536,000. Erste Asset Management GmbH purchased a new position in Illinois Tool Works during the third quarter worth approximately $2,433,000. True Wealth Design LLC increased its position in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Cobblestone Capital Advisors LLC NY raised its stake in shares of Illinois Tool Works by 2.7% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 2,844 shares of the industrial products company’s stock worth $745,000 after buying an additional 76 shares during the period. Finally, Kolinsky Wealth Management LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter valued at approximately $207,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Truist Financial increased their price objective on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Stifel Nicolaus raised their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company boosted their target price on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Four investment 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $257.30.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $277.52 on Monday. The stock has a market capitalization of $81.95 billion, a P/E ratio of 24.01, a PEG ratio of 4.30 and a beta of 1.10. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a 50 day moving average price of $264.35 and a 200 day moving average price of $250.78.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the firm posted $2.55 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. Equities 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 paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.16%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

About Illinois Tool Works

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.