Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Liberty Capital Management Inc.

Liberty Capital Management Inc. cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 22,406 shares of the industrial products company’s stock after selling 166 shares during the period. Illinois Tool Works makes up approximately 1.3% of Liberty Capital Management Inc.’s holdings, making the stock its 21st biggest holding. Liberty Capital Management Inc.’s holdings in Illinois Tool Works were worth $5,872,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Financial Connections Group Inc. acquired a new position in Illinois Tool Works in the 2nd quarter worth $30,000. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works in the second quarter worth about $30,000. Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works in the third quarter valued at about $35,000. Meeder Asset Management Inc. boosted its holdings in Illinois Tool Works by 261.4% in the second 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. Finally, Valued Wealth Advisors LLC grew its stake in Illinois Tool Works by 2,162.5% during the 2nd quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $257.08 on Wednesday. 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 $76.71 billion, a PE ratio of 25.35, a P/E/G ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a 1-year low of $217.50 and a 1-year high of $271.15. The business’s fifty day moving average price is $253.18 and its two-hundred day moving average price is $247.27.

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, beating the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the firm posted $2.41 EPS. Illinois Tool Works’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, research analysts expect that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm 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. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Monday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.17%.

Analyst Ratings Changes

Several research firms have recently commented on ITW. Wells Fargo & Company increased their target price on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Evercore ISI reduced 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 research note on Monday, August 19th. Truist Financial boosted their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group decreased their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Three analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $255.44.

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.