Everence Capital Management Inc. Has $5.03 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Everence Capital Management Inc. raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 10.4% during the fourth quarter, HoldingsChannel reports. The firm owned 19,839 shares of the industrial products company’s stock after acquiring an additional 1,870 shares during the quarter. Everence Capital Management Inc.’s holdings in Illinois Tool Works were worth $5,030,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. grew its position in Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after acquiring an additional 398,676 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Illinois Tool Works by 26,088.4% in the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after purchasing an additional 322,192 shares in the last quarter. National Bank of Canada FI increased its position in Illinois Tool Works by 318.9% during the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after purchasing an additional 308,935 shares in the last quarter. AXA S.A. lifted its stake in Illinois Tool Works by 242.3% in the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock valued at $80,888,000 after purchasing an additional 241,618 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after buying an additional 167,422 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Truist Financial upped their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Robert W. Baird upped their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their target price for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $268.50.

Illinois Tool Works Trading Up 0.4 %

Shares of ITW traded up $1.04 during trading hours on Friday, hitting $251.07. 167,354 shares of the stock were exchanged, compared to its average volume of 445,839. The firm has a market capitalization of $74.14 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 4.22 and a beta of 1.10. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The business has a 50-day moving average of $267.18 and a 200-day moving average of $254.55.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share 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 firm 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 posted $2.55 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. On average, research analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s payout ratio is 51.90%.

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.