Mowery & Schoenfeld Wealth Management LLC Has $88,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Mowery & Schoenfeld Wealth Management LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 27.7% in the third quarter, Holdings Channel.com reports. The fund owned 336 shares of the industrial products company’s stock after selling 129 shares during the quarter. Mowery & Schoenfeld Wealth Management LLC’s holdings in Illinois Tool Works were worth $88,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. PEAK6 Investments LLC increased its stake in shares of Illinois Tool Works by 17.5% in the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 140 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Illinois Tool Works during the first quarter worth approximately $1,147,000. Norden Group LLC boosted its position in shares of Illinois Tool Works by 1,889.1% in the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock valued at $7,103,000 after acquiring an additional 25,144 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Illinois Tool Works by 78.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock worth $9,907,000 after acquiring an additional 16,216 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in Illinois Tool Works by 7.3% during the third quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock worth $37,999,000 after acquiring an additional 9,825 shares during the period. 79.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ITW has been the subject of several research reports. Truist Financial increased their target price 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. Jefferies Financial Group cut their target price 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. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Evercore ISI dropped their price objective on shares of 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. Finally, Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $255.44.

Illinois Tool Works Price Performance

Shares of ITW traded down $0.99 on Thursday, hitting $255.33. The company’s stock had a trading volume of 148,762 shares, compared to its average volume of 1,061,515. The company has a market capitalization of $76.19 billion, a PE ratio of 25.27, a PEG ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a fifty-two week low of $219.01 and a fifty-two week high of $271.15. The company has a 50 day moving average price of $253.53 and a 200 day moving average price of $247.33. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92.

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

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.35%. The ex-dividend date was Monday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s payout ratio is 59.17%.

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.