Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by DE Burlo Group Inc.

DE Burlo Group Inc. lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 20.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,563 shares of the industrial products company’s stock after selling 900 shares during the quarter. DE Burlo Group Inc.’s holdings in Illinois Tool Works were worth $934,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Legal & General Group Plc increased its stake in Illinois Tool Works by 2.4% during the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock worth $640,425,000 after purchasing an additional 62,645 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Illinois Tool Works by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock worth $361,998,000 after buying an additional 133,853 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Illinois Tool Works by 0.8% during the third quarter. PNC Financial Services Group Inc. now owns 1,247,066 shares of the industrial products company’s stock worth $326,819,000 after buying an additional 9,563 shares during the period. Guinness Asset Management LTD increased its stake in shares of Illinois Tool Works by 4.6% during the third quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock worth $210,447,000 after buying an additional 35,145 shares during the period. Finally, ProShare Advisors LLC increased its stake in shares of Illinois Tool Works by 7.3% during the second quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock worth $176,047,000 after buying an additional 50,753 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ITW. JPMorgan Chase & Co. increased their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Truist Financial increased their price objective on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company increased their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Four analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $257.30.

Illinois Tool Works Trading Down 0.0 %

Shares of Illinois Tool Works stock opened at $266.38 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The firm has a market cap of $78.66 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 4.13 and a beta of 1.10. The business has a fifty day simple moving average of $261.33 and a 200-day simple moving average of $249.46. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $277.58.

Illinois Tool Works (NYSE:ITW) last posted its quarterly 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. The firm had revenue of $3.97 billion for 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 quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.55 earnings per share. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend 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.