Lokken Investment Group LLC Boosts Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Lokken Investment Group LLC boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 12.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,540 shares of the industrial products company’s stock after acquiring an additional 490 shares during the period. Lokken Investment Group LLC’s holdings in Illinois Tool Works were worth $1,076,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Frazier Financial Advisors LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter worth about $26,000. Security National Bank bought a new position in shares of Illinois Tool Works during the 4th quarter valued at $28,000. Financial Connections Group Inc. bought a new position in Illinois Tool Works in the second quarter valued at about $30,000. Christopher J. Hasenberg Inc purchased a new position in shares of Illinois Tool Works in the first quarter worth approximately $32,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works during the 1st quarter valued at $34,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.2 %

NYSE:ITW opened at $254.72 on Wednesday. The firm has a market cap of $76.01 billion, a P/E ratio of 25.12, a P/E/G ratio of 3.93 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. The firm has a 50-day simple moving average of $245.38 and a 200-day simple moving average of $248.22.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. The firm had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. Illinois Tool Works’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.41 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a $1.50 dividend. The ex-dividend date is Monday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.36%. Illinois Tool Works’s dividend payout ratio (DPR) is 59.17%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ITW shares. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Stifel Nicolaus decreased their target price on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Barclays reduced their target price on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a report on Wednesday, July 31st. Truist Financial decreased their price target on Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Evercore ISI decreased their price objective on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Three analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $250.22.

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.