Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 11.1% in the third quarter, HoldingsChannel.com reports. The fund owned 762 shares of the industrial products company’s stock after purchasing an additional 76 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Illinois Tool Works were worth $200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Connections Group Inc. acquired a new position in Illinois Tool Works in the 2nd quarter valued at about $30,000. Fairscale Capital LLC purchased a new stake in shares of Illinois Tool Works during the second quarter worth about $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works in the first quarter valued at approximately $34,000. Rise Advisors LLC purchased a new position in shares of Illinois Tool Works during the first quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. boosted its position in Illinois Tool Works by 261.4% during the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after acquiring 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 Trading Down 0.2 %

NYSE:ITW opened at $260.83 on Thursday. Illinois Tool Works Inc. has a 12 month low of $217.50 and a 12 month high of $271.15. The business’s 50-day moving average is $251.52 and its two-hundred day moving average is $247.50. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. The firm has a market capitalization of $77.83 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. Illinois Tool Works’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.41 EPS. Research analysts predict that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $1.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.30%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s payout ratio is currently 59.17%.

Analyst Ratings Changes

ITW has been the subject of several analyst reports. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Barclays reduced their target price on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 31st. Evercore ISI cut their price objective on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Wells Fargo & Company upped their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Finally, Truist Financial boosted their price objective on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $255.44.

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.