Radnor Capital Management LLC Makes New Investment in Illinois Tool Works Inc. (NYSE:ITW)

Radnor Capital Management LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 16,402 shares of the industrial products company’s stock, valued at approximately $4,298,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nikulski Financial Inc. raised its stake in shares of 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 worth $290,000 after purchasing an additional 39 shares during the last quarter. Steele Capital Management Inc. raised its stake in shares of Illinois Tool Works by 4.9% in the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 40 shares during the last quarter. EP Wealth Advisors LLC raised its stake in shares of Illinois Tool Works by 1.0% in the first quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock worth $1,178,000 after purchasing an additional 42 shares during the last quarter. Procyon Advisors LLC raised its stake in shares of Illinois Tool Works by 2.7% in the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock worth $422,000 after purchasing an additional 43 shares during the last quarter. Finally, Centaurus Financial Inc. raised its stake in shares of Illinois Tool Works by 8.1% in the second quarter. Centaurus Financial Inc. now owns 614 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 46 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $266.43 on Wednesday. The stock has a fifty day simple moving average of $256.24 and a two-hundred day simple moving average of $247.61. Illinois Tool Works Inc. has a 1-year low of $227.66 and a 1-year high of $271.15. The firm has a market cap of $78.68 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 3.84 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 announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $4.02 billion. During the same period in the prior year, the company earned $2.55 earnings per share. Illinois Tool Works’s revenue was down 1.6% compared to the same quarter last year. Analysts anticipate that Illinois Tool Works Inc. will post 10.75 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

Analyst Upgrades and Downgrades

ITW has been the subject of several analyst reports. Evercore ISI lowered their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Stifel Nicolaus increased their price target 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. Argus raised Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price target 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. Finally, Robert W. Baird increased 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. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $256.40.

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.