Marino Stram & Associates LLC Acquires 60 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Marino Stram & Associates LLC raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,080 shares of the industrial products company’s stock after purchasing an additional 60 shares during the quarter. Marino Stram & Associates LLC’s holdings in Illinois Tool Works were worth $807,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. PEAK6 Investments LLC raised its stake in shares of Illinois Tool Works by 17.5% in the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 140 shares during the last quarter. GSA Capital Partners LLP bought a new position in Illinois Tool Works in the 1st quarter valued at $1,147,000. Norden Group LLC raised its position in shares of Illinois Tool Works by 1,889.1% during the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after acquiring an additional 25,144 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Illinois Tool Works by 78.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock valued at $9,907,000 after acquiring an additional 16,216 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in Illinois Tool Works by 7.3% in the third quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock worth $37,999,000 after purchasing an additional 9,825 shares during the period. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ITW. Evercore ISI lowered their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Truist Financial upped their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised 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. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Barclays decreased their target price on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $255.44.

Illinois Tool Works Stock Performance

NYSE:ITW traded down $2.30 on Monday, hitting $258.73. The company’s stock had a trading volume of 133,059 shares, compared to its average volume of 1,065,898. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The firm has a market capitalization of $77.21 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The stock has a fifty day moving average of $252.37 and a two-hundred day moving average of $247.33. 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 (NYSE:ITW) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.41 earnings per share. Research analysts predict that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $1.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.00 annualized dividend and a yield of 2.32%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio (DPR) is presently 59.17%.

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.