ORG Wealth Partners LLC Raises Holdings in Illinois Tool Works Inc. (NYSE:ITW)

ORG Wealth Partners LLC boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,300 shares of the industrial products company’s stock after acquiring an additional 148 shares during the quarter. ORG Wealth Partners LLC’s holdings in Illinois Tool Works were worth $330,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Franklin Resources Inc. grew its holdings in Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares during the period. International Assets Investment Management LLC grew its stake in Illinois Tool Works by 26,088.4% in the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after acquiring an additional 322,192 shares during the period. National Bank of Canada FI increased its holdings in Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after acquiring an additional 308,935 shares in the last quarter. AXA S.A. raised its position in Illinois Tool Works by 242.3% during the second quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock worth $80,888,000 after acquiring an additional 241,618 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after purchasing an additional 167,422 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on ITW shares. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Jefferies Financial Group increased their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Wells Fargo & Company cut their price target on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday. Finally, Truist Financial boosted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $268.00.

Illinois Tool Works Trading Down 1.0 %

NYSE:ITW traded down $2.42 during trading hours on Friday, reaching $245.19. 352,804 shares of the stock were exchanged, compared to its average volume of 750,239. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. 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 business has a 50-day moving average of $266.27 and a two-hundred day moving average of $254.85. The company has a market capitalization of $72.40 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 4.22 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released 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. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate 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 revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.55 EPS. On average, equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend 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.