Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Stifel Financial Corp

Stifel Financial Corp boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,757,245 shares of the industrial products company's stock after acquiring an additional 17,139 shares during the period. Stifel Financial Corp owned 0.60% of Illinois Tool Works worth $460,533,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Financial Connections Group Inc. bought a new stake in Illinois Tool Works during the second quarter valued at about $30,000. Fairscale Capital LLC bought a new stake in shares of Illinois Tool Works during the second quarter worth $30,000. True Wealth Design LLC increased its position in Illinois Tool Works by 1,060.0% during 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 during the period. Catalyst Capital Advisors LLC acquired a new stake in Illinois Tool Works in the third quarter valued at approximately $32,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works during the third quarter worth about $35,000. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW traded down $0.63 during midday trading on Thursday, hitting $275.27. 698,409 shares of the stock were exchanged, compared to its average volume of 1,044,394. 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 stock has a market cap of $81.29 billion, a P/E ratio of 23.87, a PEG ratio of 4.28 and a beta of 1.10. The company has a 50 day moving average price of $265.50 and a 200-day moving average price of $251.33. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate 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 prior year, the business earned $2.55 earnings per share. On average, research analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works's dividend payout ratio (DPR) is 51.90%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Evercore ISI lowered Illinois Tool Works from an "in-line" rating to an "underperform" rating and lifted their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Robert W. Baird boosted their target price on 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 upgraded Illinois Tool Works from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $230.00 to $270.00 in a research note on Thursday. StockNews.com raised shares of Illinois Tool Works from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Finally, Truist Financial lifted their price objective on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of "Hold" and an average price target of $261.30.

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.