Safe Harbor Fiduciary LLC acquired a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,252 shares of the industrial products company's stock, valued at approximately $2,425,000. Illinois Tool Works makes up about 2.3% of Safe Harbor Fiduciary LLC's investment portfolio, making the stock its 11th biggest holding.
Several other institutional investors also recently bought and sold shares of ITW. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works during the second quarter valued at approximately $30,000. Fairscale Capital LLC purchased a new position in shares of Illinois Tool Works in the 2nd quarter valued at $30,000. True Wealth Design LLC raised its position in shares of 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 worth $30,000 after acquiring an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works during the third quarter valued at about $32,000. Finally, Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works in the third quarter valued at about $35,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.
Illinois Tool Works Price Performance
Shares of ITW stock traded down $0.98 on Thursday, reaching $274.92. 459,427 shares of the company were exchanged, compared to its average volume of 1,043,010. The company has a market cap of $81.18 billion, a price-to-earnings ratio of 23.87, a P/E/G ratio of 4.28 and a beta of 1.10. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The business has a 50-day moving average price of $265.50 and a 200 day moving average price of $251.33. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.
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 business's revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.55 earnings per share. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.
Illinois Tool Works Announces Dividend
The firm also recently disclosed 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 annualized dividend and a yield of 2.18%. Illinois Tool Works's dividend payout ratio is presently 51.90%.
Analyst Ratings Changes
A number of research firms have recently weighed in on ITW. Truist Financial raised their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their target price on Illinois Tool Works from $236.00 to $250.00 and gave the company an "underweight" rating in a research report on Monday, October 7th. Stifel Nicolaus upped their target price on Illinois Tool Works from $260.00 to $262.00 and gave the company a "hold" rating in a research report on Wednesday, October 16th. Evercore ISI cut shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and lifted their price objective for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, Barclays upgraded shares of Illinois Tool Works from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $230.00 to $270.00 in a research note on Thursday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works currently has an average rating of "Hold" and a consensus target price of $261.30.
Read Our Latest Report on ITW
Illinois Tool Works Profile
(
Free Report)
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.
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