Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Lynch & Associates IN

Lynch & Associates IN grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,021 shares of the industrial products company’s stock after purchasing an additional 164 shares during the period. Lynch & Associates IN’s holdings in Illinois Tool Works were worth $4,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ITW. Financial Connections Group Inc. acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at $30,000. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at $34,000. Rise Advisors LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at $35,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays decreased their price target on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Truist Financial boosted their price objective on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $255.22.

Illinois Tool Works Trading Down 0.0 %

ITW opened at $261.47 on Wednesday. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The company has a market cap of $78.02 billion, a P/E ratio of 25.79, a PEG ratio of 4.10 and a beta of 1.10. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. The business’s 50-day simple moving average is $251.04 and its 200-day simple moving average is $247.41.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating 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 the consensus estimate of $4.08 billion. During the same quarter in the prior year, the business posted $2.41 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $1.50 dividend. The ex-dividend date was Monday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.29%. Illinois Tool Works’s dividend payout ratio is 59.17%.

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.