Benjamin Edwards Inc. Grows Position in Illinois Tool Works Inc. (NYSE:ITW)

Benjamin Edwards Inc. raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 787.3% in the third quarter, Holdings Channel reports. The fund owned 186,643 shares of the industrial products company’s stock after buying an additional 165,607 shares during the period. Illinois Tool Works makes up approximately 0.7% of Benjamin Edwards Inc.’s portfolio, making the stock its 28th biggest holding. Benjamin Edwards Inc.’s holdings in Illinois Tool Works were worth $48,945,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ITW. Nikulski Financial Inc. lifted its holdings in Illinois Tool Works by 3.6% during the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after buying an additional 39 shares during the last quarter. Steele Capital Management Inc. raised its position in shares of Illinois Tool Works by 4.9% during the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 40 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Illinois Tool Works by 2.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after purchasing an additional 40 shares during the last quarter. Sigma Planning Corp boosted its holdings in Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after purchasing an additional 41 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after purchasing an additional 41 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $277.52 on Monday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The stock has a fifty day moving average of $264.35 and a two-hundred day moving average of $250.78. The company has a market capitalization of $81.95 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 4.30 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the business earned $2.55 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal 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 paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.16%. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Analyst Ratings Changes

Several research analysts have recently issued reports on ITW shares. Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Robert W. Baird upped their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Truist Financial lifted their price objective on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $257.30.

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.