Illinois Tool Works Inc. (NYSE:ITW) Stock Position Lifted by Caprock Group LLC

Caprock Group LLC increased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 4.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,650 shares of the industrial products company’s stock after purchasing an additional 399 shares during the period. Caprock Group LLC’s holdings in Illinois Tool Works were worth $2,280,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ITW. Pathstone Holdings LLC boosted its stake in shares of Illinois Tool Works by 2.0% during the 3rd quarter. Pathstone Holdings LLC now owns 51,783 shares of the industrial products company’s stock worth $13,590,000 after acquiring an additional 994 shares in the last quarter. Windle Wealth LLC boosted its position in Illinois Tool Works by 3.4% during the third quarter. Windle Wealth LLC now owns 26,093 shares of the industrial products company’s stock worth $6,838,000 after purchasing an additional 851 shares during the period. Baron Wealth Management LLC acquired a new position in Illinois Tool Works during the third quarter valued at approximately $228,000. Quest Partners LLC raised its position in shares of Illinois Tool Works by 8.6% in the third quarter. Quest Partners LLC now owns 11,171 shares of the industrial products company’s stock valued at $2,928,000 after purchasing an additional 880 shares during the period. Finally, Aljian Capital Management LLC boosted its holdings in shares of Illinois Tool Works by 2.3% during the 3rd quarter. Aljian Capital Management LLC now owns 4,039 shares of the industrial products company’s stock worth $1,058,000 after buying an additional 90 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Truist Financial boosted their price objective 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 upped their price target on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $257.30.

Illinois Tool Works Stock Down 1.3 %

Shares of ITW stock opened at $266.46 on Wednesday. The stock has a market cap of $78.69 billion, a P/E ratio of 23.05, a price-to-earnings-growth ratio of 4.19 and a beta of 1.10. 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 stock has a fifty day moving average price of $260.94 and a 200 day moving average price of $249.34. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $277.58.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the business earned $2.55 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. Analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business 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 dividend yield of 2.25%. Illinois Tool Works’s dividend payout ratio (DPR) 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.