16,402 Shares in Illinois Tool Works Inc. (NYSE:ITW) Acquired by Radnor Capital Management LLC

Radnor Capital Management LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,402 shares of the industrial products company's stock, valued at approximately $4,298,000.

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

Illinois Tool Works Stock Performance

ITW traded up $9.04 on Wednesday, hitting $275.47. 1,143,315 shares of the stock traded hands, compared to its average volume of 1,062,558. The business has a fifty day moving average price of $256.24 and a two-hundred day moving average price of $247.61. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $81.35 billion, a PE ratio of 23.05, a P/E/G ratio of 3.84 and a beta of 1.10. Illinois Tool Works Inc. has a 52 week low of $227.66 and a 52 week high of $277.58.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping 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 company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the firm earned $2.55 EPS. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. On average, research analysts predict that Illinois Tool Works Inc. will post 10.75 EPS for the current fiscal 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 given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works's dividend payout ratio (DPR) is 51.90%.

Analyst Upgrades and Downgrades

ITW has been the topic of several research reports. Truist Financial upped their target price 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. Evercore ISI decreased their price objective on shares of Illinois Tool Works from $251.00 to $246.00 and set an "in-line" rating for the company in a report on Monday, August 19th. StockNews.com raised Illinois Tool Works from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price target 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, Argus upgraded shares of Illinois Tool Works to a "strong-buy" rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of "Hold" and a consensus price target of $256.40.

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.