United Capital Management of KS Inc. Makes New $7.69 Million Investment in Illinois Tool Works Inc. (NYSE:ITW)

United Capital Management of KS Inc. acquired a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 29,326 shares of the industrial products company's stock, valued at approximately $7,686,000. Illinois Tool Works comprises approximately 1.7% of United Capital Management of KS Inc.'s holdings, making the stock its 21st biggest holding.

Several other hedge funds have also recently made changes to their positions in the business. Wolverine Asset Management LLC bought a new position in Illinois Tool Works in the third quarter worth about $1,179,000. Ashton Thomas Securities LLC bought a new position in shares of Illinois Tool Works in the 3rd quarter worth approximately $112,000. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in shares of 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 valued at $423,000 after purchasing an additional 40 shares during the period. Tyler Stone Wealth Management boosted its position in shares of Illinois Tool Works by 100.0% during the third quarter. Tyler Stone Wealth Management now owns 2,358 shares of the industrial products company's stock valued at $618,000 after purchasing an additional 1,179 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in Illinois Tool Works by 4.1% in the third quarter. Axxcess Wealth Management LLC now owns 13,462 shares of the industrial products company's stock worth $3,528,000 after purchasing an additional 531 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

NYSE:ITW traded up $1.56 during trading hours on Monday, reaching $273.51. The company had a trading volume of 283,858 shares, compared to its average volume of 1,056,900. The firm has a market cap of $80.77 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 4.22 and a beta of 1.10. 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's 50 day moving average price is $257.60 and its 200-day moving average price is $248.09. Illinois Tool Works Inc. has a 52 week low of $231.21 and a 52 week high of $277.58.

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 EPS for the quarter, topping the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion during 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%. Illinois Tool Works's revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.55 earnings per share. On average, analysts forecast that Illinois Tool Works Inc. will post 10.12 EPS 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. Investors of record on Tuesday, December 31st will be given 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 2.19%. Illinois Tool Works's dividend payout ratio (DPR) is 51.90%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Truist Financial boosted their price objective on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Argus raised shares of Illinois Tool Works to a "strong-buy" rating in a research note on Wednesday, July 31st. StockNews.com raised Illinois Tool Works from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Finally, Barclays raised their price objective on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an "underweight" rating in a research note on Friday, November 1st. Three analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Illinois Tool Works has an average rating of "Hold" and a consensus price target of $256.40.

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.