Aljian Capital Management LLC Buys 90 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Aljian Capital Management LLC increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,039 shares of the industrial products company’s stock after buying an additional 90 shares during the quarter. Aljian Capital Management LLC’s holdings in Illinois Tool Works were worth $1,058,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of Illinois Tool Works by 26,088.4% during the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock worth $847,610,000 after purchasing an additional 322,192 shares during the period. AXA S.A. boosted its holdings in Illinois Tool Works by 242.3% during the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock valued at $80,888,000 after acquiring an additional 241,618 shares during the period. Guinness Asset Management LTD grew its position in Illinois Tool Works by 30.7% in the 2nd quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company’s stock valued at $181,926,000 after acquiring an additional 180,458 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Illinois Tool Works by 9.6% in 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. Finally, Renaissance Technologies LLC lifted its position in shares of Illinois Tool Works by 75.1% during the second quarter. Renaissance Technologies LLC now owns 258,000 shares of the industrial products company’s stock worth $61,136,000 after purchasing an additional 110,673 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $270.62 on Monday. The company has a market capitalization of $79.91 billion, a PE ratio of 23.41, a P/E/G ratio of 4.19 and a beta of 1.10. The company has a 50-day simple moving average of $260.09 and a two-hundred day simple moving average of $248.98. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $277.58. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

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

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.22%. Illinois Tool Works’s payout ratio is 51.90%.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Truist Financial raised their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Barclays boosted their price target on Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price objective for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. upped their target price on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $257.30.

Illinois Tool Works 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.