LPL Financial LLC Boosts Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

LPL Financial LLC grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 448,100 shares of the industrial products company's stock after purchasing an additional 28,518 shares during the quarter. LPL Financial LLC owned approximately 0.15% of Illinois Tool Works worth $117,434,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. International Assets Investment Management LLC boosted its position in Illinois Tool Works by 26,088.4% during the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company's stock worth $847,610,000 after acquiring an additional 322,192 shares during the last quarter. AXA S.A. boosted its holdings in shares of Illinois Tool Works by 242.3% during the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company's stock worth $80,888,000 after purchasing an additional 241,618 shares during the last quarter. Guinness Asset Management LTD boosted its holdings in shares of Illinois Tool Works by 30.7% during the 2nd quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company's stock worth $181,926,000 after purchasing an additional 180,458 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Illinois Tool Works by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company's stock valued at $361,998,000 after purchasing an additional 133,853 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Illinois Tool Works by 75.1% during the second quarter. Renaissance Technologies LLC now owns 258,000 shares of the industrial products company's stock worth $61,136,000 after buying an additional 110,673 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Trading Up 1.5 %

ITW opened at $273.94 on Friday. Illinois Tool Works Inc. has a 52 week low of $232.77 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 business has a fifty day simple moving average of $262.20 and a 200-day simple moving average of $249.80. The firm has a market cap of $80.89 billion, a P/E ratio of 23.70, a P/E/G ratio of 4.18 and a beta of 1.10.

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

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.19%. Illinois Tool Works's payout ratio is 51.90%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ITW shares. Robert W. Baird lifted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Truist Financial lifted 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 note on Wednesday, October 9th. Evercore ISI downgraded shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and raised their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Argus raised shares of Illinois Tool Works to a "strong-buy" rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $257.30.

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.