Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,381 shares of the industrial products company’s stock after purchasing an additional 124 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Illinois Tool Works were worth $362,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Fairscale Capital LLC purchased a new position in Illinois Tool Works during the second quarter worth approximately $30,000. Financial Connections Group Inc. purchased a new position in shares of Illinois Tool Works during the 2nd quarter valued at approximately $30,000. Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works in the 3rd quarter valued at $35,000. Meeder Asset Management Inc. increased its holdings in Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 115 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its position in Illinois Tool Works by 132.0% during the first quarter. Financial Management Professionals Inc. now owns 174 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 99 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Truist Financial increased their target price on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays lowered their price target on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 31st. Argus raised Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI lowered their target price on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $255.44.

Illinois Tool Works Trading Down 0.6 %

Shares of ITW stock opened at $254.08 on Friday. Illinois Tool Works Inc. has a twelve month low of $221.82 and a twelve month high of $271.15. The stock has a market cap of $75.82 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 4.10 and a beta of 1.10. The company’s 50-day moving average price is $254.08 and its 200-day moving average price is $247.23. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.09. The business had revenue of $4.03 billion during 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%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.41 EPS. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Tuesday, December 31st. 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.