Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Bradley Foster & Sargent Inc. CT

Bradley Foster & Sargent Inc. CT boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,441 shares of the industrial products company’s stock after purchasing an additional 142 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Illinois Tool Works were worth $2,000,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of ITW. Gryphon Financial Partners LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at approximately $263,000. Jump Financial LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at approximately $309,000. TrinityPoint Wealth LLC lifted its position in shares of Illinois Tool Works by 2.4% during the 4th 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. ING Groep NV lifted its position in shares of Illinois Tool Works by 538.3% during the 4th quarter. ING Groep NV now owns 3,485 shares of the industrial products company’s stock valued at $913,000 after acquiring an additional 2,939 shares during the period. Finally, Gladstone Institutional Advisory LLC lifted its position in shares of Illinois Tool Works by 46.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,299 shares of the industrial products company’s stock valued at $864,000 after acquiring an additional 1,039 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 0.7 %

Shares of NYSE ITW opened at $252.94 on Thursday. Illinois Tool Works Inc. has a 52-week low of $217.50 and a 52-week high of $271.15. The firm has a fifty day moving average of $245.72 and a 200-day moving average of $248.25. The stock has a market capitalization of $75.48 billion, a PE ratio of 24.94, a P/E/G ratio of 3.93 and a beta of 1.10. 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 data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the company earned $2.41 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders 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 is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.37%. Illinois Tool Works’s payout ratio is currently 59.17%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ITW. Barclays dropped 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 note on Wednesday, July 31st. Truist Financial dropped their price objective on shares of Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Jefferies Financial Group dropped their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. 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. Finally, StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.