Quest Partners LLC Acquires 880 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Quest Partners LLC raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,171 shares of the industrial products company’s stock after acquiring an additional 880 shares during the period. Quest Partners LLC’s holdings in Illinois Tool Works were worth $2,928,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Capital Research Global Investors increased its holdings in Illinois Tool Works by 1.2% in the first quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock valued at $1,171,006,000 after purchasing an additional 51,654 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Illinois Tool Works by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after acquiring an additional 62,645 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Illinois Tool Works by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock valued at $361,998,000 after acquiring an additional 133,853 shares during the period. Guinness Asset Management LTD boosted its stake in Illinois Tool Works by 4.6% during the 3rd quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock worth $210,447,000 after acquiring an additional 35,145 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in Illinois Tool Works by 7.3% during the second quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock valued at $176,047,000 after purchasing an additional 50,753 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.3 %

NYSE ITW opened at $270.62 on Monday. 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. The stock’s 50 day moving average price is $260.09 and its two-hundred day moving average price is $248.98. The stock has a market capitalization of $79.91 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 4.19 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion for 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%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.55 earnings per share. As a group, analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted 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. Barclays increased their price target on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price objective for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, Truist Financial increased their target price on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $257.30.

About Illinois Tool Works

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.