Cobblestone Capital Advisors LLC NY Buys 76 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Cobblestone Capital Advisors LLC NY increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,844 shares of the industrial products company’s stock after purchasing an additional 76 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Illinois Tool Works were worth $745,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ITW. Fisher Asset Management LLC increased its stake in shares of Illinois Tool Works by 4.2% during the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after buying an additional 135,023 shares during the period. Legal & General Group Plc raised its holdings in shares of Illinois Tool Works by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after purchasing an additional 62,645 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Illinois Tool Works by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock worth $484,685,000 after purchasing an additional 32,656 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Illinois Tool Works by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock valued at $361,998,000 after purchasing an additional 133,853 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Illinois Tool Works by 0.8% during the third quarter. PNC Financial Services Group Inc. now owns 1,247,066 shares of the industrial products company’s stock valued at $326,819,000 after buying an additional 9,563 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Barclays lifted their target price on Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Truist Financial raised their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price objective 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. Finally, Robert W. Baird raised their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $257.30.

Illinois Tool Works Trading Up 0.5 %

Shares of NYSE:ITW opened at $277.52 on Monday. The business has a 50-day moving average price of $264.35 and a 200-day moving average price of $250.78. The stock has a market cap 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 Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. 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 (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating 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 business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the business posted $2.55 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current 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 issued a $1.50 dividend. The ex-dividend date 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 (DPR) is presently 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.