Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,165 shares of the industrial products company’s stock after selling 164 shares during the period. Landscape Capital Management L.L.C.’s holdings in Illinois Tool Works were worth $1,092,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ITW. Nikulski Financial Inc. grew its stake in shares of Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after purchasing an additional 39 shares in the last quarter. Steele Capital Management Inc. boosted its position in shares of Illinois Tool Works by 4.9% during the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 40 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Illinois Tool Works by 2.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after acquiring an additional 40 shares during the last quarter. Sigma Planning Corp raised its position in shares of Illinois Tool Works by 0.9% during the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after acquiring an additional 41 shares in the last quarter. Finally, Harbour Investments Inc. boosted its holdings in Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after purchasing an additional 41 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 1.5 %

NYSE:ITW opened at $273.94 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The stock’s 50 day simple moving average is $262.20 and its 200-day simple moving average is $249.80. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $277.58. The firm has a market cap of $80.89 billion, a P/E ratio of 23.70, a PEG ratio of 4.13 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 company had revenue of $3.97 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.55 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s payout ratio is 51.90%.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of research analyst reports. Evercore ISI cut shares of 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. Barclays upped their price objective on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Truist Financial lifted their target price on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Argus raised Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus 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.