Gerber LLC Buys New Position in Illinois Tool Works Inc. (NYSE:ITW)

Gerber LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 766 shares of the industrial products company’s stock, valued at approximately $201,000.

A number of other large investors also recently modified their holdings of the business. AXA S.A. increased its holdings in Illinois Tool Works by 242.3% in the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock valued at $80,888,000 after buying an additional 241,618 shares during the period. Guinness Asset Management LTD raised its position in Illinois Tool Works by 30.7% in the second quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company’s stock worth $181,926,000 after purchasing an additional 180,458 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Illinois Tool Works by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock worth $361,998,000 after purchasing an additional 133,853 shares during the period. SG Americas Securities LLC boosted its holdings in Illinois Tool Works by 2,334.0% during the first quarter. SG Americas Securities LLC now owns 127,152 shares of the industrial products company’s stock valued at $34,119,000 after purchasing an additional 121,928 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Illinois Tool Works by 75.1% in the 2nd quarter. Renaissance Technologies LLC now owns 258,000 shares of the industrial products company’s stock valued at $61,136,000 after purchasing an additional 110,673 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on ITW. Barclays dropped their price objective on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research note on Wednesday, July 31st. Truist Financial boosted their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Jefferies Financial Group decreased their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, Wells Fargo & Company lifted their price objective 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. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $255.44.

Illinois Tool Works Trading Down 0.7 %

Shares of NYSE:ITW traded down $1.75 during mid-day trading on Monday, reaching $259.28. The stock had a trading volume of 173,081 shares, compared to its average volume of 1,066,129. The firm has a market cap of $77.37 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The firm has a 50 day simple moving average of $252.37 and a two-hundred day simple moving average of $247.33. 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 Inc. has a twelve month low of $217.50 and a twelve month high of $271.15.

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

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $1.50 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, September 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.31%. Illinois Tool Works’s dividend payout ratio 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.