Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by HM Payson & Co.

HM Payson & Co. raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,228 shares of the industrial products company’s stock after acquiring an additional 98 shares during the quarter. HM Payson & Co.’s holdings in Illinois Tool Works were worth $6,349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ITW. Financial Connections Group Inc. acquired a new position in Illinois Tool Works during the 2nd quarter valued at about $30,000. Fairscale Capital LLC purchased a new stake in shares of Illinois Tool Works during the 2nd quarter worth about $30,000. Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works during the 3rd quarter valued at about $35,000. Meeder Asset Management Inc. increased its holdings in Illinois Tool Works by 261.4% in the second 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. Finally, Valued Wealth Advisors LLC lifted its stake in Illinois Tool Works by 2,162.5% in the second quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 173 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Down 0.2 %

Shares of ITW traded down $0.54 during trading hours on Thursday, reaching $263.79. The stock had a trading volume of 62,626 shares, compared to its average volume of 1,060,177. Illinois Tool Works Inc. has a 52 week low of $221.82 and a 52 week high of $271.15. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The company has a market cap of $78.32 billion, a P/E ratio of 25.90, a P/E/G ratio of 4.10 and a beta of 1.10. The firm has a 50-day moving average of $254.96 and a 200 day moving average of $247.27.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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. The business 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 19.15% and a return on equity of 99.74%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.55 EPS. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.27%. Illinois Tool Works’s payout ratio is presently 58.82%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ITW. Evercore ISI decreased their price objective on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a report on Monday, August 19th. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Truist Financial lifted their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company lifted their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $254.90.

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.