Shoker Investment Counsel Inc. Sells 84 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Shoker Investment Counsel Inc. trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the third quarter, Holdings Channel reports. The firm owned 9,822 shares of the industrial products company’s stock after selling 84 shares during the quarter. Shoker Investment Counsel Inc.’s holdings in Illinois Tool Works were worth $2,574,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of ITW. Fairscale Capital LLC bought a new stake in Illinois Tool Works in the second quarter valued at approximately $30,000. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth approximately $32,000. Financial Connections Group Inc. bought a new stake in Illinois Tool Works in the 2nd quarter valued at $30,000. Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works during the 3rd quarter valued at $35,000. Finally, Meeder Asset Management Inc. boosted its position in Illinois Tool Works by 261.4% during the second 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. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $271.95 on Friday. The stock has a market capitalization of $80.31 billion, a PE ratio of 23.53, a P/E/G ratio of 4.27 and a beta of 1.10. Illinois Tool Works Inc. has a fifty-two week low of $227.66 and a fifty-two week high of $277.58. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The business has a fifty day moving average price of $257.60 and a two-hundred day moving average price of $248.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the business posted $2.55 earnings per share. Illinois Tool Works’s revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.21%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Truist Financial raised 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 note on Wednesday, October 9th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird upped their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $256.40.

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.