McIlrath & Eck LLC Has $502,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

McIlrath & Eck LLC decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,914 shares of the industrial products company’s stock after selling 94 shares during the quarter. McIlrath & Eck LLC’s holdings in Illinois Tool Works were worth $502,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ITW. Financial Connections Group Inc. acquired a new position in shares of Illinois Tool Works during the 2nd quarter worth about $30,000. Fairscale Capital LLC bought a new stake in Illinois Tool Works during the second quarter worth about $30,000. True Wealth Design LLC boosted its position in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth approximately $32,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth approximately $35,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Performance

ITW opened at $273.79 on Wednesday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The business has a fifty day simple moving average of $266.20 and a 200 day simple moving average of $251.93. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The company has a market capitalization of $80.85 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 4.24 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the business posted $2.55 earnings per share. Illinois Tool Works’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts expect that Illinois Tool Works Inc. will post 10.13 EPS 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. Investors 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 2.19%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group raised their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Stifel Nicolaus lifted their price target on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. 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, Truist Financial lifted their target price on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $267.30.

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.