Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 54.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,018 shares of the industrial products company's stock after acquiring an additional 10,888 shares during the quarter. Quantinno Capital Management LP's holdings in Illinois Tool Works were worth $8,129,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Connections Group Inc. acquired a new position in Illinois Tool Works during the second quarter worth about $30,000. Fairscale Capital LLC acquired a new stake in shares of Illinois Tool Works in the 2nd quarter worth approximately $30,000. True Wealth Design LLC increased its stake in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works during the third quarter worth $32,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works during the third quarter worth $35,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on ITW shares. Evercore ISI lowered shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and boosted their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Wells Fargo & Company upped 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. Robert W. Baird raised their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Barclays raised Illinois Tool Works from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $230.00 to $270.00 in a research note on Thursday. Finally, Truist Financial raised their price target on Illinois Tool Works from $281.00 to $312.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $266.30.

Illinois Tool Works Trading Down 0.6 %

Shares of NYSE:ITW traded down $1.74 during midday trading on Friday, reaching $273.53. The company's stock had a trading volume of 536,469 shares, compared to its average volume of 1,042,320. The firm has a market cap 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 business has a 50 day moving average price of $265.76 and a 200 day moving average price of $251.50. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. 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 issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm's quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $2.55 EPS. Research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

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