Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Hilltop Holdings Inc.

Hilltop Holdings Inc. grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 264.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,073 shares of the industrial products company’s stock after buying an additional 4,405 shares during the period. Hilltop Holdings Inc.’s holdings in Illinois Tool Works were worth $1,591,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Nikulski Financial Inc. raised its holdings in Illinois Tool Works by 3.6% in the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after acquiring an additional 39 shares in the last quarter. Steele Capital Management Inc. grew its position in Illinois Tool Works by 4.9% in the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock valued at $206,000 after buying an additional 40 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its position in Illinois Tool Works by 2.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after buying an additional 40 shares during the last quarter. Sigma Planning Corp boosted its position in shares of Illinois Tool Works by 0.9% during the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after purchasing an additional 41 shares in the last quarter. Finally, Harbour Investments Inc. boosted its position in shares of Illinois Tool Works by 1.1% during the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after purchasing an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.9 %

NYSE ITW opened at $276.08 on Wednesday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The stock has a 50-day simple moving average of $265.14 and a 200 day simple moving average of $251.16. The company has a market capitalization of $81.53 billion, a PE ratio of 23.88, a P/E/G ratio of 4.32 and a beta of 1.10. 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 (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the company earned $2.55 earnings per share. Illinois Tool Works’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.17%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Analyst Upgrades and Downgrades

Several research analysts recently 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. Truist Financial upped their price target on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays upped their price target on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Stifel Nicolaus upped their target price on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Finally, Robert W. Baird upped their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $257.30.

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.