Sigma Planning Corp Increases Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Sigma Planning Corp increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,639 shares of the industrial products company’s stock after purchasing an additional 41 shares during the quarter. Sigma Planning Corp’s holdings in Illinois Tool Works were worth $1,216,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Covestor Ltd boosted its stake in Illinois Tool Works by 16.6% in the 3rd quarter. Covestor Ltd now owns 366 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 52 shares during the period. XML Financial LLC lifted its holdings in shares of Illinois Tool Works by 2.7% in the third quarter. XML Financial LLC now owns 3,668 shares of the industrial products company’s stock worth $961,000 after buying an additional 97 shares in the last quarter. RKL Wealth Management LLC boosted its position in shares of Illinois Tool Works by 2.6% during the third quarter. RKL Wealth Management LLC now owns 7,237 shares of the industrial products company’s stock worth $1,896,000 after acquiring an additional 180 shares during the last quarter. Essex Savings Bank grew its stake in Illinois Tool Works by 2.1% during the third quarter. Essex Savings Bank now owns 4,098 shares of the industrial products company’s stock valued at $1,074,000 after acquiring an additional 85 shares in the last quarter. Finally, Kerusso Capital Management LLC increased its holdings in Illinois Tool Works by 6.4% in the 3rd quarter. Kerusso Capital Management LLC now owns 9,003 shares of the industrial products company’s stock valued at $2,359,000 after acquiring an additional 543 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 1.1 %

Shares of ITW opened at $271.20 on Wednesday. The company’s fifty day simple moving average is $258.03 and its 200-day simple moving average is $248.27. The company has a market cap of $80.09 billion, a P/E ratio of 23.46, a P/E/G ratio of 4.22 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a twelve month low of $231.21 and a twelve month high of $277.58.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The company 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 firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.55 EPS. As a group, analysts expect that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on ITW shares. JPMorgan Chase & Co. increased their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Truist Financial upped their price objective on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. 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 report on Thursday, October 31st. Finally, Wells Fargo & Company upped their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $256.40.

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.