Adero Partners LLC purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 824 shares of the industrial products company’s stock, valued at approximately $216,000.
A number of other hedge funds have also recently made changes to their positions in the company. Fairscale Capital LLC bought a new stake in shares of Illinois Tool Works during the 2nd quarter worth $30,000. Catalyst Capital Advisors LLC bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth $32,000. Financial Connections Group Inc. bought a new stake in shares of Illinois Tool Works during the 2nd quarter worth $30,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works in the third quarter worth $35,000. Finally, Meeder Asset Management Inc. lifted its stake in Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 115 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.
Illinois Tool Works Stock Performance
Shares of NYSE:ITW opened at $270.62 on Monday. The company has a market cap of $79.91 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 4.19 and a beta of 1.10. The company has a 50-day moving average price of $260.09 and a 200-day moving average price of $248.98. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $277.58.
Illinois Tool Works Dividend Announcement
The business also recently declared 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. This represents a $6.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is currently 51.90%.
Analyst Ratings Changes
Several analysts have weighed in on ITW shares. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Barclays boosted their price target on shares of Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Robert W. Baird boosted their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $257.30.
Check Out Our Latest Research Report on ITW
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.
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