Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Lifted by Avestar Capital LLC

Avestar Capital LLC raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 25.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,066 shares of the industrial products company’s stock after purchasing an additional 218 shares during the quarter. Avestar Capital LLC’s holdings in Illinois Tool Works were worth $279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairscale Capital LLC purchased a new position in Illinois Tool Works in the second quarter valued at about $30,000. Catalyst Capital Advisors LLC purchased a new position in Illinois Tool Works in the third quarter valued at about $32,000. Financial Connections Group Inc. bought a new stake in shares of Illinois Tool Works during the 2nd quarter worth about $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth about $35,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Illinois Tool Works by 261.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ITW shares. Robert W. Baird upped their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Truist Financial upped their price target on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Argus raised Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus boosted their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $257.30.

Illinois Tool Works Trading Down 0.2 %

Illinois Tool Works stock opened at $276.01 on Thursday. The business has a 50 day moving average price of $263.53 and a two-hundred day moving average price of $250.39. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The stock has a market cap of $81.51 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating 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 company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the company posted $2.55 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.17%. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

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.