Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,269 shares of the industrial products company’s stock after acquiring an additional 468 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Illinois Tool Works were worth $7,172,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Gryphon Financial Partners LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $263,000. Jump Financial LLC bought a new position in Illinois Tool Works in the fourth quarter worth about $309,000. TrinityPoint Wealth LLC boosted its stake 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 acquiring an additional 95 shares during the period. Assetmark Inc. grew its holdings in shares of Illinois Tool Works by 127.0% during the fourth quarter. Assetmark Inc. now owns 2,835 shares of the industrial products company’s stock valued at $743,000 after purchasing an additional 1,586 shares during the last quarter. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $26,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Down 1.4 %

ITW stock opened at $254.32 on Friday. The firm’s 50-day moving average is $246.24 and its two-hundred day moving average is $248.29. 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 $75.89 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 3.93 and a beta of 1.10. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15.

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 analysts’ expectations of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.41 earnings per share. On average, analysts forecast that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.00 annualized dividend and a yield of 2.36%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.17%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Truist Financial cut their price objective 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. Barclays decreased their target price 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. Finally, Jefferies Financial Group cut their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and an average 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.