Saturna Capital Corp Sells 7,165 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Saturna Capital Corp lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 308,174 shares of the industrial products company's stock after selling 7,165 shares during the period. Saturna Capital Corp owned 0.10% of Illinois Tool Works worth $80,763,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Nikulski Financial Inc. lifted its stake in Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company's stock worth $290,000 after purchasing an additional 39 shares during the last quarter. Steele Capital Management Inc. raised its holdings in shares of Illinois Tool Works by 4.9% during the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company's stock valued at $206,000 after buying an additional 40 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in Illinois Tool Works by 2.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company's stock worth $423,000 after buying an additional 40 shares during the last quarter. Sigma Planning Corp boosted its stake in Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company's stock worth $1,216,000 after buying an additional 41 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in Illinois Tool Works by 1.1% during the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company's stock valued at $957,000 after acquiring an additional 41 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. Stifel Nicolaus upped their price target on shares of 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 downgraded Illinois Tool Works from an "in-line" rating to an "underperform" rating and lifted their price objective for the stock from $246.00 to $255.00 in a report on Wednesday. Truist Financial increased their target price on Illinois Tool Works from $281.00 to $312.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, StockNews.com raised Illinois Tool Works from a "hold" rating to a "buy" rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $257.30.

Illinois Tool Works Trading Up 0.6 %

Shares of NYSE ITW traded up $1.76 during midday trading on Wednesday, hitting $272.96. 1,212,931 shares of the company traded hands, compared to its average volume of 1,059,048. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $277.58. The firm has a market cap of $80.61 billion, a P/E ratio of 23.51, a P/E/G ratio of 4.21 and a beta of 1.10. The stock has a 50-day moving average price of $258.46 and a 200 day moving average price of $248.44. 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 announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the company earned $2.55 EPS. The business's revenue was down 1.6% compared to the same quarter last year. As a group, analysts expect that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders 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 dividend yield of 2.20%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works's dividend payout ratio is presently 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.