Evermay Wealth Management LLC Has $324,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Evermay Wealth Management LLC raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 18.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,233 shares of the industrial products company’s stock after acquiring an additional 188 shares during the quarter. Evermay Wealth Management LLC’s holdings in Illinois Tool Works were worth $324,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ITW. Steele Capital Management Inc. grew its position 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 acquiring an additional 40 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Illinois Tool Works by 1.0% in the first quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock worth $1,178,000 after purchasing an additional 42 shares during the last quarter. Procyon Advisors LLC grew its holdings in shares of 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 worth $422,000 after purchasing an additional 43 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in Illinois Tool Works by 3.0% in 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 during the period. Finally, Carson Advisory Inc. lifted its stake in Illinois Tool Works by 3.0% in the first quarter. Carson Advisory Inc. now owns 1,552 shares of the industrial products company’s stock worth $417,000 after acquiring an additional 45 shares during the period. Institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ITW. Stifel Nicolaus raised their price target on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI lowered their price target on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Jefferies Financial Group lowered their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Truist Financial lifted their price objective on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $255.44.

Illinois Tool Works Trading Up 2.2 %

ITW stock traded up $5.60 during midday trading on Wednesday, reaching $261.64. The company’s stock had a trading volume of 435,702 shares, compared to its average volume of 1,059,117. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. The stock has a fifty day simple moving average of $254.61 and a two-hundred day simple moving average of $247.15. Illinois Tool Works Inc. has a 1 year low of $221.82 and a 1 year high of $271.15. The firm has a market capitalization of $77.68 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the firm posted $2.41 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities research analysts predict 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. Investors of record on Tuesday, December 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 58.82%.

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.