American Institute for Advanced Investment Management LLP Has $2.07 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

American Institute for Advanced Investment Management LLP lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,892 shares of the industrial products company’s stock after selling 45 shares during the quarter. Illinois Tool Works comprises about 1.5% of American Institute for Advanced Investment Management LLP’s investment portfolio, making the stock its 15th biggest position. American Institute for Advanced Investment Management LLP’s holdings in Illinois Tool Works were worth $2,068,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ITW. Financial Connections Group Inc. acquired a new stake in shares of Illinois Tool Works in the second quarter worth $30,000. Fairscale Capital LLC acquired a new stake in Illinois Tool Works in the 2nd quarter worth $30,000. Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works during the 3rd quarter worth about $35,000. Meeder Asset Management Inc. increased its holdings in shares of Illinois Tool Works by 261.4% during the 2nd 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 period. Finally, Valued Wealth Advisors LLC raised its position in shares of Illinois Tool Works by 2,162.5% during the second quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock valued at $43,000 after buying an additional 173 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

Shares of ITW traded down $0.11 during trading hours on Thursday, hitting $256.21. The stock had a trading volume of 112,979 shares, compared to its average volume of 1,061,342. The stock has a market capitalization of $76.45 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 4.10 and a beta of 1.10. 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 company’s fifty day moving average is $253.53 and its two-hundred day moving average is $247.33. Illinois Tool Works Inc. has a 52 week low of $219.01 and a 52 week high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share 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 analysts’ expectations of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.41 earnings per share. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $1.50 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Monday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 59.17%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ITW shares. Truist Financial boosted their price target on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. 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 research report on Monday, October 7th. Stifel Nicolaus raised their target price on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Barclays dropped their price objective on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $255.44.

About Illinois Tool Works

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.