Greenleaf Trust Has $3.59 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Greenleaf Trust increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,683 shares of the industrial products company’s stock after acquiring an additional 760 shares during the period. Greenleaf Trust’s holdings in Illinois Tool Works were worth $3,586,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ITW. Financial Connections Group Inc. acquired a new stake in shares of Illinois Tool Works during the 2nd quarter worth approximately $30,000. Fairscale Capital LLC acquired a new stake in Illinois Tool Works in the second quarter valued at approximately $30,000. Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works in the third quarter valued at approximately $35,000. Meeder Asset Management Inc. boosted its position in Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after buying an additional 115 shares in the last quarter. Finally, Valued Wealth Advisors LLC boosted its position in Illinois Tool Works by 2,162.5% in the second quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock valued at $43,000 after buying an additional 173 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.0 %

NYSE ITW traded down $0.03 during mid-day trading on Wednesday, reaching $256.95. 23,673 shares of the stock were exchanged, compared to its average volume of 1,061,863. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The stock has a 50 day simple moving average of $253.18 and a 200-day simple moving average of $247.27. The stock has a market cap of $76.67 billion, a P/E ratio of 25.35, a P/E/G ratio of 4.10 and a beta of 1.10. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the firm earned $2.41 earnings per share. Illinois Tool Works’s quarterly revenue was down 1.2% on a year-over-year basis. On average, 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 declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders 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. This represents a $6.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Monday, September 30th. Illinois Tool Works’s payout ratio is 59.17%.

Analyst Ratings Changes

A number of brokerages have weighed in on ITW. Truist Financial raised their target price 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. Wells Fargo & Company raised their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Evercore ISI cut their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. lifted their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Three equities 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 assigned a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and an average target price of $255.44.

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.