Kathmere Capital Management LLC Purchases 1,155 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Kathmere Capital Management LLC grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 31.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,853 shares of the industrial products company’s stock after buying an additional 1,155 shares during the period. Kathmere Capital Management LLC’s holdings in Illinois Tool Works were worth $1,150,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gryphon Financial Partners LLC bought a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $263,000. Focus Financial Network Inc. ADV bought a new stake in Illinois Tool Works in the fourth quarter worth $1,121,000. TFO Wealth Partners LLC grew its position in Illinois Tool Works by 96,000.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,922 shares of the industrial products company’s stock valued at $524,000 after purchasing an additional 1,920 shares during the last quarter. Avestar Capital LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $219,000. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in Illinois Tool Works by 5.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 7,743 shares of the industrial products company’s stock valued at $2,028,000 after purchasing an additional 397 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 0.7 %

NYSE:ITW opened at $263.90 on Friday. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The business has a fifty day moving average price of $247.31 and a 200-day moving average price of $248.27. The firm has a market capitalization of $78.35 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 4.09 and a beta of 1.10. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the business posted $2.41 earnings per share. The business’s quarterly revenue was down 1.2% on a year-over-year basis. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued 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 2.27%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s payout ratio is currently 55.23%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Stifel Nicolaus dropped their price target on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Jefferies Financial Group decreased 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 report on Thursday, July 11th. Wells Fargo & Company raised their target price on shares of Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. Finally, Truist Financial decreased their target price 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. Three analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and an average target price of $250.22.

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.