Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 163,849 shares of the industrial products company’s stock after buying an additional 433 shares during the period. Benjamin F. Edwards & Company Inc. owned approximately 0.05% of Illinois Tool Works worth $38,826,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ITW. Gryphon Financial Partners LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $263,000. Jump Financial LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at about $309,000. TrinityPoint Wealth LLC increased its holdings in Illinois Tool Works by 2.4% in the fourth quarter. TrinityPoint Wealth LLC now owns 4,068 shares of the industrial products company’s stock valued at $1,065,000 after buying an additional 95 shares in the last quarter. ING Groep NV increased its holdings in Illinois Tool Works by 538.3% in the fourth quarter. ING Groep NV now owns 3,485 shares of the industrial products company’s stock valued at $913,000 after buying an additional 2,939 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Illinois Tool Works by 1.7% in the fourth quarter. D.A. Davidson & CO. now owns 15,457 shares of the industrial products company’s stock valued at $4,049,000 after buying an additional 251 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 2.0 %

Shares of ITW opened at $257.95 on Friday. The firm has a market cap of $76.97 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 3.93 and a beta of 1.10. The company’s fifty day moving average is $246.07 and its two-hundred day moving average is $248.32. Illinois Tool Works Inc. has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. Illinois Tool Works’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the business earned $2.41 EPS. Analysts forecast that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a dividend of $1.50 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.33%. Illinois Tool Works’s payout ratio is presently 59.17%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ITW shares. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Evercore ISI dropped their price objective on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company raised their price objective on shares of Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 31st. Truist Financial decreased their target price on shares of Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus decreased their target price on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $250.22.

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.