Romano Brothers AND Company Sells 160 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Romano Brothers AND Company lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the third quarter, Holdings Channel reports. The fund owned 20,732 shares of the industrial products company’s stock after selling 160 shares during the period. Romano Brothers AND Company’s holdings in Illinois Tool Works were worth $5,433,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ITW. Capital Research Global Investors increased its holdings in shares of 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 in 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 buying an additional 62,645 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Illinois Tool Works by 9.6% during the second 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 holdings in Illinois Tool Works by 4.6% in the third quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock valued at $210,447,000 after acquiring an additional 35,145 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Illinois Tool Works by 7.3% during the 2nd quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock worth $176,047,000 after purchasing an additional 50,753 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

ITW stock opened at $256.28 on Thursday. Illinois Tool Works Inc. has a 1-year low of $217.50 and a 1-year high of $271.15. The business’s 50-day moving average price is $253.53 and its two-hundred day moving average price is $247.33. The firm has a market cap of $76.47 billion, a PE ratio of 25.27, a P/E/G ratio of 4.10 and a beta of 1.10. 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 (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $2.41 earnings per share. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $1.50 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Monday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.17%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays lowered their target price on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Argus raised Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus upped their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and an average price target of $255.44.

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.