Radnor Capital Management LLC Makes New $4.30 Million Investment in Illinois Tool Works Inc. (NYSE:ITW)

Radnor Capital Management LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,402 shares of the industrial products company’s stock, valued at approximately $4,298,000.

Other hedge funds also recently modified their holdings of the company. Fairscale Capital LLC bought a new position in Illinois Tool Works in the 2nd quarter valued at about $30,000. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the third quarter valued at approximately $32,000. Financial Connections Group Inc. acquired a new position in Illinois Tool Works during the second quarter valued at approximately $30,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works during the third quarter worth $35,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 115 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Robert W. Baird boosted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus increased their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their price objective 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. Finally, Jefferies Financial Group dropped their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Three analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $256.40.

Illinois Tool Works Trading Up 1.0 %

NYSE ITW opened at $266.43 on Wednesday. The business’s 50-day moving average price is $256.24 and its two-hundred day moving average price is $247.61. Illinois Tool Works Inc. has a 12 month low of $227.66 and a 12 month high of $271.15. The firm has a market capitalization of $78.68 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 3.84 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the company posted $2.55 EPS. The business’s revenue was down 1.6% on a year-over-year basis. On average, analysts expect that Illinois Tool Works Inc. will post 10.75 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.25%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

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.