Foundations Investment Advisors LLC Buys 105 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Foundations Investment Advisors LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,525 shares of the industrial products company’s stock after purchasing an additional 105 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Illinois Tool Works were worth $400,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. PEAK6 Investments LLC boosted its position in shares of Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 140 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Illinois Tool Works in the 1st quarter valued at $1,147,000. Norden Group LLC raised its holdings in shares of Illinois Tool Works by 1,889.1% during the 1st quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after buying an additional 25,144 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Illinois Tool Works by 78.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock worth $9,907,000 after buying an additional 16,216 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Illinois Tool Works by 7.3% in the third quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock valued at $37,999,000 after buying an additional 9,825 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

ITW has been the topic of a number of research analyst reports. Evercore ISI reduced their price target 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. Barclays decreased their target price on shares of 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. Stifel Nicolaus increased their price target on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Truist Financial boosted their price objective on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $255.44.

Illinois Tool Works Trading Down 0.6 %

NYSE ITW opened at $254.08 on Friday. The stock has a market capitalization of $75.44 billion, a P/E ratio of 24.91, a P/E/G ratio of 4.10 and a beta of 1.10. The business has a 50 day simple moving average of $253.83 and a 200 day simple moving average of $247.39. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. Illinois Tool Works Inc. has a one year low of $221.82 and a one year high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.41 EPS. Research analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 58.82%.

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.