Captrust Financial Advisors Has $10.41 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Captrust Financial Advisors lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 9.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 39,704 shares of the industrial products company's stock after buying an additional 3,581 shares during the quarter. Captrust Financial Advisors' holdings in Illinois Tool Works were worth $10,405,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairscale Capital LLC bought a new stake in Illinois Tool Works in the second quarter valued at $30,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter worth about $32,000. Financial Connections Group Inc. bought a new stake in Illinois Tool Works in the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works during the 3rd quarter valued at about $35,000. Finally, Meeder Asset Management Inc. increased its stake in shares of 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 valued at $38,000 after purchasing an additional 115 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.4 %

Shares of ITW traded up $0.98 during trading hours on Monday, hitting $278.50. 904,191 shares of the company were exchanged, compared to its average volume of 1,047,875. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The firm's 50 day moving average is $264.35 and its 200-day moving average is $250.78. The company has a market cap of $82.24 billion, a PE ratio of 24.09, a PEG ratio of 4.30 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to analysts' expectations of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.55 earnings per share. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.15%. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.90%.

Analyst Ratings Changes

A number of brokerages have issued reports on ITW. StockNews.com upgraded Illinois Tool Works from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Truist Financial upped their target price on 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 downgraded shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and upped their price target for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Robert W. Baird lifted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.