Gerber LLC Makes New $201,000 Investment in Illinois Tool Works Inc. (NYSE:ITW)

Gerber LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 766 shares of the industrial products company’s stock, valued at approximately $201,000.

A number of other institutional investors have also made changes to their positions in the business. Marino Stram & Associates LLC boosted its position in Illinois Tool Works by 2.0% during the third quarter. Marino Stram & Associates LLC now owns 3,080 shares of the industrial products company’s stock worth $807,000 after purchasing an additional 60 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Illinois Tool Works by 66.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 23,188 shares of the industrial products company’s stock valued at $6,077,000 after buying an additional 9,271 shares during the period. Vest Financial LLC lifted its stake in Illinois Tool Works by 15.6% during the third quarter. Vest Financial LLC now owns 203,528 shares of the industrial products company’s stock worth $53,339,000 after purchasing an additional 27,447 shares during the last quarter. Petix & Botte Co bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth $204,000. Finally, New Century Financial Group LLC boosted its stake in shares of Illinois Tool Works by 21.3% in the 3rd quarter. New Century Financial Group LLC now owns 1,379 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 242 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the topic of a number of recent research reports. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Barclays decreased their price objective on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a report on Wednesday, July 31st. Evercore ISI cut their price target on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Jefferies Financial Group dropped their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $255.44.

Illinois Tool Works Stock Down 0.7 %

Shares of ITW stock traded down $1.75 during midday trading on Monday, reaching $259.28. 173,081 shares of the stock were exchanged, compared to its average volume of 1,066,129. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. Illinois Tool Works Inc. has a 1 year low of $217.50 and a 1 year high of $271.15. The firm has a market cap of $77.37 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The company’s 50 day moving average is $252.37 and its two-hundred day moving average is $247.33.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the business posted $2.41 EPS. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities research analysts predict that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio is currently 59.17%.

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.