Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 10.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,971 shares of the industrial products company’s stock after purchasing an additional 559 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Illinois Tool Works were worth $1,576,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PEAK6 Investments LLC boosted its holdings in Illinois Tool Works by 17.5% in the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 140 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Illinois Tool Works in the first quarter valued at approximately $1,147,000. Norden Group LLC boosted its holdings in shares of Illinois Tool Works by 1,889.1% in the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock valued at $7,103,000 after acquiring an additional 25,144 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Illinois Tool Works by 78.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock valued at $9,907,000 after acquiring an additional 16,216 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in shares of 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 acquiring an additional 9,825 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Trading Down 0.5 %

Illinois Tool Works stock opened at $257.08 on Wednesday. The stock has a market cap of $76.71 billion, a PE ratio of 25.35, a P/E/G ratio of 4.10 and a beta of 1.10. The stock has a 50-day moving average price of $253.18 and a 200 day moving average price of $247.27. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. The firm had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.41 EPS. Equities research analysts predict that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.33%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 59.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their price target on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Argus raised Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Jefferies Financial Group decreased their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. 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. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $255.44.

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.