Financial Counselors Inc. increased its position in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 3.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 13,631 shares of the industrial products company’s stock after purchasing an additional 487 shares during the period. Financial Counselors Inc.’s holdings in Illinois Tool Works were worth $3,572,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Illinois Tool Works by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock valued at $484,685,000 after acquiring an additional 32,656 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Illinois Tool Works by 15.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,600 shares of the industrial products company’s stock valued at $36,323,000 after purchasing an additional 18,954 shares during the period. CreativeOne Wealth LLC raised its position in Illinois Tool Works by 40.1% during the 3rd quarter. CreativeOne Wealth LLC now owns 5,774 shares of the industrial products company’s stock valued at $1,513,000 after purchasing an additional 1,654 shares during the last quarter. Townsquare Capital LLC lifted its holdings in Illinois Tool Works by 12.2% in the 3rd quarter. Townsquare Capital LLC now owns 8,946 shares of the industrial products company’s stock worth $2,344,000 after buying an additional 970 shares during the period. Finally, Cadence Bank bought a new stake in shares of Illinois Tool Works in the 3rd quarter worth approximately $221,000. 79.77% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts recently commented on ITW shares. Wells Fargo & Company upped their target price on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Barclays boosted their price target on shares of 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 raised their price objective 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, Stifel Nicolaus upped their target price on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $257.30.
Illinois Tool Works Stock Performance
Shares of ITW opened at $276.04 on Friday. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. 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 stock has a market cap of $81.51 billion, a P/E ratio of 23.88, a P/E/G ratio of 4.28 and a beta of 1.10. The business’s 50 day moving average price is $263.89 and its 200-day moving average price is $250.57.
Illinois Tool Works (NYSE:ITW – Get Free Report) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.55 earnings per share. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.
Illinois Tool Works Announces Dividend
The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.17%. Illinois Tool Works’s dividend payout ratio is presently 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.
Featured Stories
- Five stocks we like better than Illinois Tool Works
- Manufacturing Stocks Investing
- Eli Lilly, Pfizer, and AstraZeneca: 2025 Vaccine Makers to Watch
- What is the Euro STOXX 50 Index?
- DICK’S Sporting Goods: The Under-the-Radar Buy-and-Hold Winner
- Stock Average Calculator
- 2 Cheap Quantum Computing Stocks to Buy Instead of Chasing IonQ
Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW – Free Report).
Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.