Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by LaFleur & Godfrey LLC

LaFleur & Godfrey LLC decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 8.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,429 shares of the industrial products company’s stock after selling 705 shares during the quarter. LaFleur & Godfrey LLC’s holdings in Illinois Tool Works were worth $1,947,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works in the second quarter worth about $30,000. Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works during the 1st quarter valued at approximately $34,000. Financial Connections Group Inc. bought a new stake in shares of Illinois Tool Works in the second quarter worth $30,000. Rise Advisors LLC acquired a new stake in Illinois Tool Works in the first quarter valued at $35,000. Finally, Meeder Asset Management Inc. boosted its stake in Illinois Tool Works by 261.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the topic of several research analyst reports. Barclays reduced their price target on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 31st. Jefferies Financial Group lowered their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Truist Financial boosted their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $255.44.

Illinois Tool Works Stock Performance

ITW stock traded down $0.08 during trading on Wednesday, reaching $261.27. 257,632 shares of the company’s stock were exchanged, compared to its average volume of 1,072,214. The firm has a market cap of $77.96 billion, a PE ratio of 25.92, a P/E/G ratio of 4.10 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. Illinois Tool Works Inc. has a 1-year low of $217.50 and a 1-year high of $271.15. The company’s fifty day moving average price is $251.04 and its 200-day moving average price is $247.41.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.45 by $0.09. The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company earned $2.41 EPS. On average, research analysts expect that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a dividend of $1.50 per share. This is a positive change 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 2.30%. The ex-dividend date was Monday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 59.17%.

Illinois Tool Works Company 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.