Illinois Tool Works Inc. (NYSE:ITW) Stake Raised by Verity & Verity LLC

Verity & Verity LLC grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 307.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,366 shares of the industrial products company’s stock after purchasing an additional 2,540 shares during the period. Verity & Verity LLC’s holdings in Illinois Tool Works were worth $854,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Nikulski Financial Inc. boosted its holdings in Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after buying an additional 39 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in shares of Illinois Tool Works by 2.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after acquiring an additional 40 shares in the last quarter. Sigma Planning Corp grew its holdings in shares of Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after acquiring an additional 41 shares during the last quarter. Harbour Investments Inc. raised its position in shares of Illinois Tool Works by 1.1% during the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after purchasing an additional 41 shares during the period. Finally, Procyon Advisors LLC lifted its holdings in shares of Illinois Tool Works by 2.7% during the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock valued at $422,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.2 %

Shares of Illinois Tool Works stock opened at $256.50 on Friday. The stock has a 50-day simple moving average of $264.57 and a 200-day simple moving average of $255.29. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The firm has a market cap of $75.74 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 3.55 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.55 earnings per share. On average, equities research analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.90%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ITW. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Wells Fargo & Company lowered their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Barclays decreased their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Truist Financial increased their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $270.11.

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.