CWA Asset Management Group LLC Invests $2.67 Million in Illinois Tool Works Inc. (NYSE:ITW)

CWA Asset Management Group LLC acquired a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,197 shares of the industrial products company's stock, valued at approximately $2,672,000.

Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC grew its position in Illinois Tool Works by 212.9% during the first quarter. Empowered Funds LLC now owns 13,314 shares of the industrial products company's stock valued at $3,573,000 after buying an additional 9,059 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Illinois Tool Works by 1.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 12,757 shares of the industrial products company's stock valued at $3,423,000 after acquiring an additional 203 shares during the period. Atomi Financial Group Inc. increased its stake in shares of Illinois Tool Works by 163.1% in the 1st quarter. Atomi Financial Group Inc. now owns 2,805 shares of the industrial products company's stock worth $753,000 after purchasing an additional 1,739 shares in the last quarter. NorthRock Partners LLC raised its holdings in Illinois Tool Works by 13.7% in the 1st quarter. NorthRock Partners LLC now owns 10,119 shares of the industrial products company's stock worth $2,715,000 after purchasing an additional 1,223 shares during the period. Finally, Donoghue Forlines LLC bought a new stake in Illinois Tool Works during the first quarter valued at about $796,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Price Performance

Shares of ITW stock traded down $0.96 during mid-day trading on Friday, hitting $271.95. 833,597 shares of the stock were exchanged, compared to its average volume of 838,667. Illinois Tool Works Inc. has a 52-week low of $227.66 and a 52-week high of $277.58. 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 company has a market cap of $80.31 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 4.27 and a beta of 1.10. The firm has a fifty day moving average of $257.60 and a 200 day moving average of $248.11.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm's revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.55 EPS. Research analysts anticipate that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued 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 2.21%. Illinois Tool Works's dividend payout ratio is presently 51.90%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of analyst reports. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Truist Financial increased their target price on Illinois Tool Works from $281.00 to $312.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Robert W. Baird increased their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an "underweight" rating in a report on Monday, October 7th. Finally, Evercore ISI reduced their price objective on Illinois Tool Works from $251.00 to $246.00 and set an "in-line" rating on the stock in a research note on Monday, August 19th. Three analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $256.40.

Illinois Tool Works 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.