Pathstone Holdings LLC grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 2.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,783 shares of the industrial products company’s stock after acquiring an additional 994 shares during the period. Pathstone Holdings LLC’s holdings in Illinois Tool Works were worth $13,590,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nikulski Financial Inc. raised its stake in shares of Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after acquiring an additional 39 shares in the last quarter. Steele Capital Management Inc. raised its stake in shares of Illinois Tool Works by 4.9% during the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock valued at $206,000 after acquiring an additional 40 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its stake in shares of 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 valued at $423,000 after acquiring an additional 40 shares in the last quarter. Sigma Planning Corp raised its stake in shares of Illinois Tool Works by 0.9% during the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after acquiring an additional 41 shares in the last quarter. Finally, Harbour Investments Inc. raised its stake in shares of Illinois Tool Works by 1.1% during the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after acquiring an additional 41 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the stock. Barclays boosted their price objective on shares of Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Four analysts have rated the stock with a sell rating, four have assigned 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, the stock has a consensus rating of “Hold” and an average target price of $257.30.
Illinois Tool Works Price Performance
Shares of ITW opened at $266.38 on Thursday. The firm has a market capitalization of $78.66 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 4.19 and a beta of 1.10. 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 Inc. has a 1-year low of $232.77 and a 1-year high of $277.58. The company’s fifty day moving average price is $261.33 and its 200-day moving average price is $249.46.
Illinois Tool Works (NYSE:ITW – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.55 earnings per share. On average, equities research analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.
Illinois Tool Works Announces Dividend
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 dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.
About Illinois Tool Works
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.
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