Tompkins Financial Corp grew its stake in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 362.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,188 shares of the industrial products company’s stock after purchasing an additional 7,200 shares during the quarter. Tompkins Financial Corp’s holdings in Illinois Tool Works were worth $2,330,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. State Street Corp grew its stake in Illinois Tool Works by 1.2% in the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after purchasing an additional 149,272 shares in the last quarter. Geode Capital Management LLC raised its position in Illinois Tool Works by 2.7% during the 3rd 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 purchasing an additional 167,422 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Illinois Tool Works by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock worth $877,234,000 after buying an additional 135,023 shares during the period. Legal & General Group Plc grew its position in shares of Illinois Tool Works by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock worth $640,425,000 after buying an additional 62,645 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Illinois Tool Works by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock valued at $484,685,000 after buying an additional 32,656 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on ITW shares. Barclays lowered their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company lowered their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Truist Financial upped their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $270.11.
Illinois Tool Works Trading Up 0.8 %
Illinois Tool Works stock opened at $255.83 on Friday. The stock has a 50-day moving average of $264.91 and a two-hundred day moving average of $255.29. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The stock has a market cap of $75.55 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11.
Illinois Tool Works (NYSE:ITW – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion during 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%. Illinois Tool Works’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $2.55 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.
Illinois Tool Works Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 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.
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