Proficio Capital Partners LLC Has $313,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Proficio Capital Partners LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 18.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,194 shares of the industrial products company’s stock after selling 269 shares during the quarter. Proficio Capital Partners LLC’s holdings in Illinois Tool Works were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Financial Connections Group Inc. acquired a new position in Illinois Tool Works during the 2nd quarter valued at $30,000. Fairscale Capital LLC bought a new stake in Illinois Tool Works in the 2nd quarter valued at $30,000. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works in the 3rd quarter valued at $32,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works in the 3rd quarter valued at $35,000. Finally, Meeder Asset Management Inc. increased its holdings in Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after buying an additional 115 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 0.4 %

ITW opened at $271.95 on Monday. Illinois Tool Works Inc. has a twelve month low of $227.66 and a twelve month high of $277.58. The firm’s 50-day simple moving average is $257.60 and its 200-day simple moving average is $248.11. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The firm has a market cap of $80.31 billion, a price-to-earnings 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 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. The company’s revenue was down 1.6% on a year-over-year basis. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ITW. JPMorgan Chase & Co. boosted their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Robert W. Baird boosted their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Truist Financial boosted their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Barclays upped their target price on shares of Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $256.40.

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.