Fiduciary Financial Group LLC Raises Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Fiduciary Financial Group LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,308 shares of the industrial products company’s stock after buying an additional 53 shares during the period. Fiduciary Financial Group LLC’s holdings in Illinois Tool Works were worth $334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ITW. Steele Capital Management Inc. lifted its holdings in Illinois Tool Works by 4.9% during the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after buying an additional 40 shares during the period. EP Wealth Advisors LLC boosted its position in Illinois Tool Works by 1.0% during the first quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock valued at $1,178,000 after purchasing an additional 42 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Illinois Tool Works by 3.0% in the first quarter. Proficio Capital Partners LLC now owns 1,490 shares of the industrial products company’s stock valued at $400,000 after purchasing an additional 44 shares during the last quarter. Carson Advisory Inc. raised its holdings in Illinois Tool Works by 3.0% in the first quarter. Carson Advisory Inc. now owns 1,552 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 45 shares in the last quarter. Finally, Trifecta Capital Advisors LLC lifted its position in shares of Illinois Tool Works by 0.8% during the first quarter. Trifecta Capital Advisors LLC now owns 5,948 shares of the industrial products company’s stock valued at $1,596,000 after buying an additional 46 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ITW has been the subject of several recent analyst reports. Stifel Nicolaus reduced their price objective on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday. Evercore ISI dropped their target price on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Truist Financial increased their price target on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their price target on 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 given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $255.22.

Illinois Tool Works Trading Up 1.5 %

Illinois Tool Works stock opened at $260.59 on Friday. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15. The stock has a 50-day moving average price of $250.13 and a 200 day moving average price of $247.65. 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 company has a market capitalization of $77.37 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10.

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 the consensus estimate of $2.45 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.41 EPS. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $1.50 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.30%. Illinois Tool Works’s dividend payout ratio is presently 58.82%.

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.