Dudley Capital Management LLC Acquires Shares of 800 Illinois Tool Works Inc. (NYSE:ITW)

Dudley Capital Management LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 800 shares of the industrial products company’s stock, valued at approximately $210,000.

Other large investors also recently modified their holdings of the company. Capital Research Global Investors lifted its stake in shares of Illinois Tool Works by 1.2% in the first quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock valued at $1,171,006,000 after buying an additional 51,654 shares in the last quarter. Legal & General Group Plc lifted its position in Illinois Tool Works by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after acquiring an additional 62,645 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Illinois Tool Works by 9.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock valued at $361,998,000 after purchasing an additional 133,853 shares during the last quarter. Guinness Asset Management LTD increased its holdings in Illinois Tool Works by 4.6% during the 3rd quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock worth $210,447,000 after purchasing an additional 35,145 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Illinois Tool Works by 7.3% in the second quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock worth $176,047,000 after purchasing an additional 50,753 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Truist Financial boosted their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Barclays boosted their target price on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Finally, 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. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $256.40.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $272.87 on Friday. The firm has a market cap of $80.58 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 3.85 and a beta of 1.10. The stock has a fifty day simple moving average of $256.78 and a two-hundred day simple moving average of $247.80. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 1-year low of $227.66 and a 1-year high of $277.58.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share 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%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.55 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 10.75 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

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.