World Investment Advisors LLC Grows Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

World Investment Advisors LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 6.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 15,972 shares of the industrial products company’s stock after purchasing an additional 1,000 shares during the quarter. World Investment Advisors LLC’s holdings in Illinois Tool Works were worth $4,186,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Diversified Trust Co purchased a new position in Illinois Tool Works during the 2nd quarter valued at approximately $343,000. Swedbank AB grew its holdings in shares of Illinois Tool Works by 0.9% in the second quarter. Swedbank AB now owns 86,247 shares of the industrial products company’s stock valued at $20,437,000 after purchasing an additional 753 shares in the last quarter. Brookstone Capital Management raised its stake in Illinois Tool Works by 26.8% during the second quarter. Brookstone Capital Management now owns 5,105 shares of the industrial products company’s stock valued at $1,296,000 after purchasing an additional 1,078 shares in the last quarter. Marshall Financial Group LLC lifted its position in Illinois Tool Works by 6.4% during the second quarter. Marshall Financial Group LLC now owns 4,491 shares of the industrial products company’s stock valued at $1,064,000 after purchasing an additional 269 shares during the last quarter. Finally, Zhang Financial LLC grew its stake in shares of Illinois Tool Works by 5.8% in the 2nd quarter. Zhang Financial LLC now owns 2,262 shares of the industrial products company’s stock worth $536,000 after buying an additional 123 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $272.06 on Friday. The company has a market capitalization of $80.34 billion, a P/E ratio of 23.53, a P/E/G ratio of 4.23 and a beta of 1.10. The company’s 50-day simple moving average is $267.20 and its two-hundred day simple moving average is $252.68. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate 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 company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the business posted $2.55 EPS. Illinois Tool Works’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Analyst Ratings Changes

Several research analysts recently commented on ITW shares. Wells Fargo & Company lifted their price target on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Truist Financial increased their price target 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 raised shares of Illinois Tool Works from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $230.00 to $270.00 in a research note on Thursday, December 5th. Finally, Citigroup raised their target price on shares of Illinois Tool Works from $266.00 to $279.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $267.90.

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.