True Wealth Design LLC Purchases 106 Shares of Illinois Tool Works Inc. (NYSE:ITW)

True Wealth Design LLC increased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1,060.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116 shares of the industrial products company’s stock after acquiring an additional 106 shares during the period. True Wealth Design LLC’s holdings in Illinois Tool Works were worth $30,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Nikulski Financial Inc. increased its position in shares of Illinois Tool Works by 3.6% during the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 39 shares during the last quarter. Steele Capital Management Inc. increased its holdings in Illinois Tool Works by 4.9% during the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after buying an additional 40 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in Illinois Tool Works by 2.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after acquiring an additional 40 shares during the period. Sigma Planning Corp boosted its stake in Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after acquiring an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in shares of Illinois Tool Works by 1.1% during the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after acquiring an additional 41 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

NYSE ITW opened at $277.52 on Monday. The company has a market capitalization of $81.95 billion, a P/E ratio of 24.01, a P/E/G ratio of 4.30 and a beta of 1.10. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The company has a fifty day moving average of $264.35 and a 200-day moving average of $250.78.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period last year, the firm posted $2.55 EPS. Illinois Tool Works’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s payout ratio is presently 51.90%.

Analyst Ratings Changes

Several research firms recently commented on ITW. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Robert W. Baird upped their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, Truist Financial raised their price objective on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $257.30.

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.