Versant Capital Management Inc Has $146,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Versant Capital Management Inc boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 58.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 575 shares of the industrial products company’s stock after purchasing an additional 212 shares during the period. Versant Capital Management Inc’s holdings in Illinois Tool Works were worth $146,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in shares of Illinois Tool Works by 5.2% in the third quarter. Principal Financial Group Inc. now owns 340,027 shares of the industrial products company’s stock valued at $89,111,000 after buying an additional 16,846 shares during the period. 1ST Source Bank increased its position in Illinois Tool Works by 5.3% during the 3rd quarter. 1ST Source Bank now owns 3,937 shares of the industrial products company’s stock valued at $1,032,000 after purchasing an additional 199 shares during the period. Retirement Systems of Alabama raised its holdings in Illinois Tool Works by 0.5% during the 3rd quarter. Retirement Systems of Alabama now owns 184,289 shares of the industrial products company’s stock worth $48,297,000 after purchasing an additional 948 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after purchasing an additional 398,676 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its stake in shares of Illinois Tool Works by 128.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 23,217 shares of the industrial products company’s stock valued at $6,084,000 after purchasing an additional 13,062 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Up 0.9 %

Illinois Tool Works stock opened at $252.29 on Friday. The firm has a market capitalization of $74.50 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 4.22 and a beta of 1.10. The firm’s fifty day moving average price is $267.18 and its two-hundred day moving average price is $254.55. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

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

Illinois Tool Works Announces Dividend

The company also recently declared 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 dividend yield of 2.38%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Barclays upgraded shares of Illinois Tool Works from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $230.00 to $270.00 in a report on Thursday, December 5th. Truist Financial boosted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their target price for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Jefferies Financial Group boosted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, five 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.com, the stock presently has an average rating of “Hold” and a consensus target price of $268.50.

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.