784 Shares in Illinois Tool Works Inc. (NYSE:ITW) Acquired by Buckingham Capital Management Inc.

Buckingham Capital Management Inc. bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the third quarter, Holdings Channel.com reports. The fund bought 784 shares of the industrial products company’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITW. Inspire Advisors LLC grew its position in shares of Illinois Tool Works by 13.2% during the 1st quarter. Inspire Advisors LLC now owns 2,165 shares of the industrial products company’s stock valued at $581,000 after purchasing an additional 253 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Illinois Tool Works by 2.0% in the first quarter. QRG Capital Management Inc. now owns 13,385 shares of the industrial products company’s stock worth $3,592,000 after buying an additional 268 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Illinois Tool Works by 28.6% during the first quarter. Russell Investments Group Ltd. now owns 201,720 shares of the industrial products company’s stock valued at $54,122,000 after buying an additional 44,898 shares during the period. Avantax Advisory Services Inc. grew its position in Illinois Tool Works by 5.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 10,864 shares of the industrial products company’s stock worth $2,915,000 after acquiring an additional 513 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its position in Illinois Tool Works by 1.0% during the 1st quarter. Bleakley Financial Group LLC now owns 6,829 shares of the industrial products company’s stock valued at $1,833,000 after buying an additional 68 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Down 0.4 %

Illinois Tool Works stock opened at $271.95 on Monday. 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 firm’s 50 day moving average price is $257.60 and its 200-day moving average price is $248.09. Illinois Tool Works Inc. has a 1 year low of $227.66 and a 1 year high of $277.58. The stock has a market cap of $80.31 billion, a P/E ratio of 23.53, a PEG ratio of 4.22 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the prior year, the firm earned $2.55 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, 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 business also recently announced 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 2.21%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Analyst Ratings Changes

A number of research firms have commented on ITW. Wells Fargo & Company upped 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. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Truist Financial lifted their price target 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 research note on Thursday, October 31st. Finally, Evercore ISI dropped 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 report on Monday, August 19th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.