Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Decreased by Apollon Wealth Management LLC

Apollon Wealth Management LLC lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 24.4% in the 3rd quarter, Holdings Channel reports. The fund owned 11,730 shares of the industrial products company’s stock after selling 3,778 shares during the period. Apollon Wealth Management LLC’s holdings in Illinois Tool Works were worth $3,074,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PEAK6 Investments LLC boosted its position in shares of Illinois Tool Works by 17.5% in the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after buying an additional 140 shares during the period. Handelsbanken Fonder AB grew its stake in Illinois Tool Works by 7.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock valued at $37,999,000 after acquiring an additional 9,825 shares in the last quarter. BDF Gestion acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at about $1,727,000. NewEdge Advisors LLC lifted its position in shares of Illinois Tool Works by 7.8% in the second quarter. NewEdge Advisors LLC now owns 175,921 shares of the industrial products company’s stock worth $41,686,000 after purchasing an additional 12,804 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in shares of Illinois Tool Works by 15.0% during the first quarter. Kestra Advisory Services LLC now owns 61,664 shares of the industrial products company’s stock worth $16,549,000 after purchasing an additional 8,027 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial increased their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Barclays lifted their price objective on Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their target price on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $256.40.

Illinois Tool Works Trading Down 1.1 %

Shares of ITW stock opened at $271.20 on Wednesday. The business’s 50 day moving average is $258.03 and its two-hundred day moving average is $248.27. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 12 month low of $231.21 and a 12 month high of $277.58. The company has a market cap of $80.09 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 4.22 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping 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 firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the firm posted $2.55 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts predict that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.21%. Illinois Tool Works’s payout ratio is 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.