Sanctuary Advisors LLC Purchases 13,567 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Sanctuary Advisors LLC raised its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 17.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 89,507 shares of the industrial products company's stock after buying an additional 13,567 shares during the period. Sanctuary Advisors LLC's holdings in Illinois Tool Works were worth $24,521,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several research analysts have commented on the company. Truist Financial raised their target price on Illinois Tool Works from $281.00 to $312.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Barclays raised shares of Illinois Tool Works from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $230.00 to $270.00 in a report on Thursday, December 5th. Citigroup raised their price target on shares of Illinois Tool Works from $266.00 to $279.00 and gave the company a "neutral" rating in a report on Monday. Evercore ISI cut shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and upped their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group upped their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $267.90.

Illinois Tool Works Stock Down 0.5 %

NYSE:ITW traded down $1.37 during trading hours on Friday, reaching $271.75. 181,431 shares of the company traded hands, compared to its average volume of 1,033,461. 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 business's 50-day moving average price is $266.93 and its two-hundred day moving average price is $252.46. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The stock has a market capitalization of $80.25 billion, a P/E ratio of 23.63, a P/E/G ratio of 4.23 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results 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 return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the company earned $2.55 EPS. The company's quarterly revenue was down 1.6% compared to the same quarter last year. Analysts predict 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 declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.21%. Illinois Tool Works's dividend payout ratio (DPR) is currently 51.90%.

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.