TrinityPoint Wealth LLC Has $1.10 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

TrinityPoint Wealth LLC lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,208 shares of the industrial products company’s stock after acquiring an additional 43 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Illinois Tool Works were worth $1,103,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ITW. PEAK6 Investments LLC increased its stake in shares of 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 buying an additional 140 shares in the last quarter. Wolverine Asset Management LLC bought a new position in shares of Illinois Tool Works in the third quarter worth about $1,179,000. Handelsbanken Fonder AB grew its stake in shares of Illinois Tool Works by 7.3% during the third quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock valued at $37,999,000 after purchasing an additional 9,825 shares during the last quarter. BDF Gestion acquired a new stake in shares of Illinois Tool Works in the second quarter valued at approximately $1,727,000. Finally, NewEdge Advisors LLC lifted its holdings in Illinois Tool Works by 7.8% during the 2nd quarter. NewEdge Advisors LLC now owns 175,921 shares of the industrial products company’s stock worth $41,686,000 after buying an additional 12,804 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ITW has been the topic of a number of analyst reports. Truist Financial increased 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. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Robert W. Baird increased their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $257.30.

Illinois Tool Works Trading Up 0.3 %

Shares of NYSE ITW opened at $270.62 on Monday. The firm has a 50 day moving average price of $260.09 and a two-hundred day moving average price of $248.98. The stock has a market cap of $79.91 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 4.19 and a beta of 1.10. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week 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 announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the company earned $2.55 EPS. Illinois Tool Works’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.22%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s payout ratio 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.