Tyche Wealth Partners LLC Sells 196 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Tyche Wealth Partners LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,605 shares of the industrial products company’s stock after selling 196 shares during the period. Tyche Wealth Partners LLC’s holdings in Illinois Tool Works were worth $1,993,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Boston Financial Mangement LLC lifted its holdings in shares of Illinois Tool Works by 8.6% in the third quarter. Boston Financial Mangement LLC now owns 10,795 shares of the industrial products company’s stock valued at $2,829,000 after purchasing an additional 858 shares in the last quarter. Concord Wealth Partners lifted its position in shares of Illinois Tool Works by 4.7% in the third quarter. Concord Wealth Partners now owns 1,814 shares of the industrial products company’s stock worth $475,000 after purchasing an additional 82 shares in the last quarter. L. Roy Papp & Associates LLP bought a new stake in Illinois Tool Works during the 3rd quarter worth about $214,000. J.W. Cole Advisors Inc. boosted its stake in shares of Illinois Tool Works by 9.8% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 8,113 shares of the industrial products company’s stock worth $2,126,000 after buying an additional 724 shares during the last quarter. Finally, Financial Management Professionals Inc. grew its holdings in shares of Illinois Tool Works by 28.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Illinois Tool Works stock traded down $1.36 during mid-day trading on Tuesday, reaching $255.51. 299,016 shares of the company were exchanged, compared to its average volume of 1,057,064. The company has a fifty day simple moving average of $254.36 and a 200-day simple moving average of $247.14. The firm has a market cap of $76.24 billion, a PE ratio of 25.33, a PEG ratio of 4.10 and a beta of 1.10. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. Illinois Tool Works Inc. has a 12 month low of $221.82 and a 12 month high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the company posted $2.41 EPS. Illinois Tool Works’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.35%. Illinois Tool Works’s dividend payout ratio is presently 59.17%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ITW shares. Stifel Nicolaus upped their target price on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Truist Financial upped their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, Jefferies Financial Group dropped their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Three 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.