Lifeworks Advisors LLC Grows Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Lifeworks Advisors LLC grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 22.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,494 shares of the industrial products company's stock after purchasing an additional 2,478 shares during the period. Lifeworks Advisors LLC's holdings in Illinois Tool Works were worth $3,536,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ITW. Financial Connections Group Inc. purchased a new stake in Illinois Tool Works during the 2nd quarter worth approximately $30,000. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works in the second quarter valued at approximately $30,000. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works during the 3rd quarter worth approximately $32,000. Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter worth $35,000. Finally, Meeder Asset Management Inc. raised its holdings in Illinois Tool Works by 261.4% during the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company's stock worth $38,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ITW. Truist Financial raised their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Barclays increased their target price 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. Evercore ISI lowered Illinois Tool Works from an "in-line" rating to an "underperform" rating and boosted their target price for the stock from $246.00 to $255.00 in a research report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an "underweight" rating in a research report on Monday, October 7th. Finally, StockNews.com upgraded shares of Illinois Tool Works from a "hold" rating to a "buy" rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works has a consensus rating of "Hold" and an average price target of $257.30.

Illinois Tool Works Trading Down 1.1 %

Shares of NYSE ITW traded down $3.07 during midday trading on Thursday, reaching $269.89. The company had a trading volume of 805,179 shares, compared to its average volume of 1,057,897. The stock has a market cap of $79.70 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 4.21 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $277.58. The firm's fifty day moving average price is $259.02 and its 200-day moving average price is $248.61. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the business earned $2.55 EPS. The company's quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities 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 business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders 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 annualized dividend and a yield of 2.22%. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.90%.

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.