Oppenheimer & Co. Inc. Has $4.28 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Oppenheimer & Co. Inc. trimmed its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,321 shares of the industrial products company’s stock after selling 168 shares during the period. Oppenheimer & Co. Inc.’s holdings in Illinois Tool Works were worth $4,277,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ITW. Nikulski Financial Inc. boosted its holdings in Illinois Tool Works by 3.6% in 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 during the last quarter. Steele Capital Management Inc. grew its holdings in Illinois Tool Works by 4.9% during the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 40 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of Illinois Tool Works by 2.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 40 shares in the last quarter. Sigma Planning Corp grew its stake in 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 worth $1,216,000 after purchasing an additional 41 shares during the period. Finally, Harbour Investments Inc. lifted its stake in Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after buying an additional 41 shares during the period. 79.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

ITW has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Barclays increased 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 report on Friday, November 1st. Wells Fargo & Company boosted their target price on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, Truist Financial increased their price target on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $257.30.

Illinois Tool Works Price Performance

ITW opened at $269.89 on Friday. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $277.58. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The company has a market capitalization of $79.70 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 4.21 and a beta of 1.10. The firm’s fifty day moving average price is $259.02 and its two-hundred day moving average price is $248.61.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $4.02 billion. During the same period in the prior year, the firm posted $2.55 EPS. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, analysts anticipate that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio 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.