Nicholson Wealth Management Group LLC Acquires New Position in Illinois Tool Works Inc. (NYSE:ITW)

Nicholson Wealth Management Group LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,177 shares of the industrial products company’s stock, valued at approximately $833,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Brookstone Capital Management raised its position in Illinois Tool Works by 11.0% during the first quarter. Brookstone Capital Management now owns 4,027 shares of the industrial products company’s stock valued at $1,081,000 after acquiring an additional 400 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Illinois Tool Works by 13.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 78,992 shares of the industrial products company’s stock valued at $21,196,000 after purchasing an additional 9,275 shares during the last quarter. Kathmere Capital Management LLC lifted its stake in shares of Illinois Tool Works by 10.1% in the first quarter. Kathmere Capital Management LLC now owns 3,698 shares of the industrial products company’s stock worth $992,000 after buying an additional 340 shares during the last quarter. Financial Management Professionals Inc. grew its stake in Illinois Tool Works by 132.0% in the 1st quarter. Financial Management Professionals Inc. now owns 174 shares of the industrial products company’s stock valued at $47,000 after buying an additional 99 shares during the last quarter. Finally, Independence Bank of Kentucky raised its holdings in Illinois Tool Works by 30.9% in the 1st quarter. Independence Bank of Kentucky now owns 5,953 shares of the industrial products company’s stock worth $1,597,000 after acquiring an additional 1,405 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ITW has been the subject of several research analyst reports. Evercore ISI cut their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Argus raised Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $255.44.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $255.53 on Friday. The firm has a 50-day moving average price of $253.53 and a 200 day moving average price of $247.33. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The firm has a market capitalization of $76.25 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a 12-month low of $219.01 and a 12-month high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. The company 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 business’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the business earned $2.41 earnings per share. Research analysts anticipate that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.17%.

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.