Illinois Tool Works Inc. (NYSE:ITW) Stock Position Raised by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB increased its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 128.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,217 shares of the industrial products company's stock after buying an additional 13,062 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Illinois Tool Works were worth $6,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC increased its stake in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock valued at $30,000 after buying an additional 106 shares during the period. Fairscale Capital LLC purchased a new position in shares of Illinois Tool Works during the second quarter valued at approximately $30,000. Catalyst Capital Advisors LLC purchased a new position in shares of Illinois Tool Works during the third quarter valued at approximately $32,000. Financial Connections Group Inc. purchased a new position in shares of Illinois Tool Works during the second quarter valued at approximately $30,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works during the third quarter valued at approximately $35,000. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Price Performance

NYSE ITW traded down $1.22 during trading hours on Friday, reaching $271.90. The company's stock had a trading volume of 211,012 shares, compared to its average volume of 1,033,597. The firm has a market capitalization of $80.29 billion, a price-to-earnings ratio of 23.63, a P/E/G ratio of 4.23 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 company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The company's 50-day moving average is $266.93 and its two-hundred day moving average is $252.46.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.12. The business 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%. The business's revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.55 earnings per share. On average, equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

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 paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works's dividend payout ratio is presently 51.90%.

Wall Street Analysts Forecast Growth

ITW has been the topic of several recent research reports. Robert W. Baird upped their price target 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. Truist Financial boosted their target price on Illinois Tool Works from $281.00 to $312.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. StockNews.com raised Illinois Tool Works from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Barclays raised Illinois Tool Works from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $230.00 to $270.00 in a research note on Thursday, December 5th. Finally, Wells Fargo & Company raised their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $267.90.

Illinois Tool Works 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.