Aaron Wealth Advisors LLC Has $759,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Aaron Wealth Advisors LLC grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 15.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,896 shares of the industrial products company’s stock after buying an additional 398 shares during the period. Aaron Wealth Advisors LLC’s holdings in Illinois Tool Works were worth $759,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ITW. Claro Advisors LLC increased its holdings in Illinois Tool Works by 358.0% during the 3rd quarter. Claro Advisors LLC now owns 15,586 shares of the industrial products company’s stock worth $4,085,000 after purchasing an additional 12,183 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Illinois Tool Works by 11.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 5,900 shares of the industrial products company’s stock valued at $1,546,000 after acquiring an additional 593 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Illinois Tool Works by 7.2% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,283 shares of the industrial products company’s stock valued at $9,247,000 after acquiring an additional 2,374 shares in the last quarter. Cardinal Capital Management grew its holdings in shares of Illinois Tool Works by 4.5% in the 3rd quarter. Cardinal Capital Management now owns 41,098 shares of the industrial products company’s stock valued at $10,831,000 after acquiring an additional 1,785 shares in the last quarter. Finally, Marshall Financial Group LLC grew its holdings in shares of Illinois Tool Works by 1.5% in the 3rd quarter. Marshall Financial Group LLC now owns 4,558 shares of the industrial products company’s stock valued at $1,195,000 after acquiring an additional 67 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ITW shares. Wells Fargo & Company lifted their price target on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Evercore ISI dropped their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Jefferies Financial Group dropped their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Barclays lowered their price objective on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $255.44.

Illinois Tool Works Stock Up 0.0 %

ITW stock traded up $0.07 during trading on Friday, reaching $260.73. The stock had a trading volume of 186,599 shares, compared to its average volume of 1,068,010. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The company’s 50 day moving average is $251.94 and its two-hundred day moving average is $247.59. The company has a market capitalization of $77.80 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.41 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.30%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s payout ratio is currently 59.17%.

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.