Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by CreativeOne Wealth LLC

CreativeOne Wealth LLC lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 40.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,774 shares of the industrial products company’s stock after buying an additional 1,654 shares during the period. CreativeOne Wealth LLC’s holdings in Illinois Tool Works were worth $1,513,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ITW. Financial Connections Group Inc. purchased a new stake in Illinois Tool Works during the 2nd quarter worth $30,000. Fairscale Capital LLC purchased a new stake in shares of Illinois Tool Works during the second quarter worth about $30,000. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works in the third quarter worth about $32,000. Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works in the third quarter valued at about $35,000. Finally, Meeder Asset Management Inc. increased its holdings in Illinois Tool Works by 261.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 115 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Down 0.2 %

Illinois Tool Works stock opened at $276.04 on Friday. The firm has a 50-day moving average price of $263.89 and a two-hundred day moving average price of $250.57. The firm has a market capitalization of $81.51 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 4.28 and a beta of 1.10. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.55 EPS. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

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 $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ITW shares. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their target price for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Wells Fargo & Company upped their target price 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. Truist Financial upped their price objective on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird upped their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Barclays boosted their target price on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $257.30.

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.