3,177 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by Nicholson Wealth Management Group LLC

Nicholson Wealth Management Group LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,177 shares of the industrial products company’s stock, valued at approximately $833,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DT Investment Partners LLC grew its stake in shares of Illinois Tool Works by 32.1% during the third quarter. DT Investment Partners LLC now owns 407 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 99 shares during the last quarter. Mcdaniel Terry & Co. lifted its holdings in Illinois Tool Works by 0.9% during the 3rd quarter. Mcdaniel Terry & Co. now owns 172,756 shares of the industrial products company’s stock worth $45,274,000 after buying an additional 1,618 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Illinois Tool Works by 12.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 9,332 shares of the industrial products company’s stock valued at $2,446,000 after buying an additional 1,000 shares during the last quarter. Pinnacle West Asset Management Inc. increased its stake in shares of Illinois Tool Works by 2.8% in the 3rd quarter. Pinnacle West Asset Management Inc. now owns 2,940 shares of the industrial products company’s stock valued at $770,000 after buying an additional 80 shares during the period. Finally, Grimes & Company Inc. raised its position in shares of Illinois Tool Works by 0.5% during the third quarter. Grimes & Company Inc. now owns 9,427 shares of the industrial products company’s stock worth $2,471,000 after acquiring an additional 49 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $255.53 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. Illinois Tool Works Inc. has a 12-month low of $219.01 and a 12-month high of $271.15. The firm has a fifty day moving average of $253.53 and a 200-day moving average of $247.33. The firm has a market capitalization of $76.25 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10.

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

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 59.17%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ITW shares. Wells Fargo & Company raised their price target on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Truist Financial boosted their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group dropped their target price on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $255.44.

Illinois Tool Works Company 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.