Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Lifted by Boston Financial Mangement LLC

Boston Financial Mangement LLC lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,795 shares of the industrial products company’s stock after acquiring an additional 858 shares during the quarter. Boston Financial Mangement LLC’s holdings in Illinois Tool Works were worth $2,829,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ITW. Steele Capital Management Inc. boosted its holdings in Illinois Tool Works by 4.9% during the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 40 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in Illinois Tool Works by 1.0% in the 1st quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock valued at $1,178,000 after buying an additional 42 shares in the last quarter. Procyon Advisors LLC grew its position in Illinois Tool Works by 2.7% in the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock valued at $422,000 after acquiring an additional 43 shares during the period. Proficio Capital Partners LLC raised its stake in Illinois Tool Works by 3.0% during the first quarter. Proficio Capital Partners LLC now owns 1,490 shares of the industrial products company’s stock worth $400,000 after acquiring an additional 44 shares in the last quarter. Finally, Carson Advisory Inc. lifted its holdings in shares of Illinois Tool Works by 3.0% during the first quarter. Carson Advisory Inc. now owns 1,552 shares of the industrial products company’s stock valued at $417,000 after acquiring an additional 45 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ITW shares. JPMorgan Chase & Co. increased their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Truist Financial raised their target price on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Jefferies Financial Group reduced their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, Barclays lowered their price objective on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $255.44.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $256.87 on Tuesday. Illinois Tool Works Inc. has a 12 month low of $221.82 and a 12 month high of $271.15. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. The company has a market capitalization of $76.65 billion, a PE ratio of 25.33, a PEG ratio of 4.10 and a beta of 1.10. The stock’s fifty day simple moving average is $254.36 and its 200 day simple moving average is $247.14.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. The firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the company posted $2.41 EPS. On average, research analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced 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. This represents a $6.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s payout ratio is presently 59.17%.

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.