Kovitz Investment Group Partners LLC Grows Stake in Illinois Tool Works Inc. (NYSE:ITW)

Kovitz Investment Group Partners LLC boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 289.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,201 shares of the industrial products company's stock after buying an additional 22,449 shares during the period. Kovitz Investment Group Partners LLC's holdings in Illinois Tool Works were worth $7,915,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ITW. Nikulski Financial Inc. raised its holdings in shares of Illinois Tool Works by 3.6% during the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company's stock worth $290,000 after acquiring an additional 39 shares during the period. Steele Capital Management Inc. raised its stake in Illinois Tool Works by 4.9% during the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company's stock worth $206,000 after purchasing an additional 40 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in Illinois Tool Works by 2.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company's stock valued at $423,000 after purchasing an additional 40 shares during the last quarter. Sigma Planning Corp grew its stake in shares of Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company's stock valued at $1,216,000 after buying an additional 41 shares during the period. Finally, Harbour Investments Inc. increased its holdings in shares of Illinois Tool Works by 1.1% during the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company's stock worth $957,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Down 0.6 %

Shares of NYSE ITW traded down $1.74 during midday trading on Friday, hitting $273.53. The company's stock had a trading volume of 536,469 shares, compared to its average volume of 813,357. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The business's fifty day simple moving average is $265.95 and its two-hundred day simple moving average is $251.68. The firm has a market capitalization of $80.77 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted 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 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 21.66% and a return on equity of 97.06%. The company's quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.55 earnings per share. On average, equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed 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. This represents a $6.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works's payout ratio is presently 51.90%.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. Jefferies Financial Group upped their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research note on Friday. Robert W. Baird raised their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. 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. Finally, StockNews.com upgraded shares of Illinois Tool Works from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Illinois Tool Works currently has an average rating of "Hold" and a consensus price target of $266.30.

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.