Mission Wealth Management LP grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 16.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,083 shares of the industrial products company’s stock after acquiring an additional 299 shares during the quarter. Mission Wealth Management LP’s holdings in Illinois Tool Works were worth $402,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Berman Capital Advisors LLC increased its holdings in shares of Illinois Tool Works by 8.5% during the second quarter. Berman Capital Advisors LLC now owns 704 shares of the industrial products company’s stock valued at $122,000 after acquiring an additional 55 shares in the last quarter. Aries Wealth Management increased its holdings in Illinois Tool Works by 0.6% in the 3rd quarter. Aries Wealth Management now owns 8,602 shares of the industrial products company’s stock worth $1,662,000 after buying an additional 55 shares during the period. Carroll Financial Associates Inc. increased its holdings in Illinois Tool Works by 1.6% in the 3rd quarter. Carroll Financial Associates Inc. now owns 3,579 shares of the industrial products company’s stock worth $691,000 after buying an additional 56 shares during the period. Sound View Wealth Advisors Group LLC increased its holdings in Illinois Tool Works by 0.7% in the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 8,485 shares of the industrial products company’s stock worth $1,484,000 after buying an additional 59 shares during the period. Finally, Nachman Norwood & Parrott Inc increased its holdings in Illinois Tool Works by 0.4% in the 2nd quarter. Nachman Norwood & Parrott Inc now owns 14,475 shares of the industrial products company’s stock worth $2,531,000 after buying an additional 61 shares during the period. Hedge funds and other institutional investors own 78.12% of the company’s stock.

Shares of NYSE:ITW opened at $206.64 on Friday. Illinois Tool Works Inc. has a 1 year low of $115.94 and a 1 year high of $207.75. The firm has a market capitalization of $65.33 billion, a price-to-earnings ratio of 30.34, a price-to-earnings-growth ratio of 6.37 and a beta of 1.15. The company has a debt-to-equity ratio of 3.29, a current ratio of 2.75 and a quick ratio of 2.18. The business’s 50 day moving average price is $197.01 and its 200-day moving average price is $177.70.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, July 31st. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.31. Illinois Tool Works had a return on equity of 81.80% and a net margin of 17.16%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the firm posted $1.91 EPS. The business’s revenue was down 29.0% on a year-over-year basis. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 5.78 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th were given a dividend of $1.14 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.21%. Illinois Tool Works’s dividend payout ratio (DPR) is 58.84%.

ITW has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Illinois Tool Works from $205.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, October 9th. They noted that the move was a valuation call. Morgan Stanley increased their price target on shares of Illinois Tool Works from $162.00 to $167.00 and gave the stock an “underweight” rating in a report on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Illinois Tool Works from $168.00 to $173.00 and gave the stock a “hold” rating in a report on Tuesday, October 13th. Barclays assumed coverage on shares of Illinois Tool Works in a report on Tuesday, August 25th. They issued an “equal weight” rating and a $197.00 price target on the stock. Finally, Bank of America upped their price objective on Illinois Tool Works from $130.00 to $175.00 and gave the stock an “underperform” rating in a research report on Monday, August 3rd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $173.69.

In other Illinois Tool Works news, SVP Mary Katherine Lawler sold 14,356 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $185.72, for a total value of $2,666,196.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael M. Larsen sold 66,821 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $187.09, for a total value of $12,501,540.89. Following the completion of the transaction, the chief financial officer now owns 52,319 shares in the company, valued at approximately $9,788,361.71. The disclosure for this sale can be found here. Insiders have sold a total of 143,879 shares of company stock worth $27,240,677 in the last quarter. Insiders own 0.79% of the company’s stock.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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