Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,384 shares of the industrial products company’s stock after selling 74 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Illinois Tool Works were worth $1,411,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ITW. CWS Financial Advisors LLC lifted its holdings in shares of Illinois Tool Works by 12.5% in the third quarter. CWS Financial Advisors LLC now owns 1,633 shares of the industrial products company’s stock valued at $428,000 after purchasing an additional 181 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in Illinois Tool Works by 17.5% during the third quarter. Public Sector Pension Investment Board now owns 8,043 shares of the industrial products company’s stock valued at $2,108,000 after purchasing an additional 1,200 shares during the last quarter. Financial Counselors Inc. boosted its holdings in Illinois Tool Works by 3.7% during the third quarter. Financial Counselors Inc. now owns 13,631 shares of the industrial products company’s stock worth $3,572,000 after buying an additional 487 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Illinois Tool Works by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock worth $484,685,000 after buying an additional 32,656 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Illinois Tool Works by 15.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,600 shares of the industrial products company’s stock valued at $36,323,000 after buying an additional 18,954 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ITW shares. Barclays lifted their target price on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Truist Financial upped 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. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their target price for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $257.30.

Illinois Tool Works Trading Up 0.6 %

Shares of NYSE:ITW opened at $277.66 on Friday. The firm has a fifty day moving average of $264.35 and a two-hundred day moving average of $250.76. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a market capitalization of $81.99 billion, a P/E ratio of 24.02, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data 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 return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the firm earned $2.55 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders 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 2.16%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

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.