Farther Finance Advisors LLC Has $744,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Farther Finance Advisors LLC cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 16.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,838 shares of the industrial products company’s stock after selling 560 shares during the period. Farther Finance Advisors LLC’s holdings in Illinois Tool Works were worth $744,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nikulski Financial Inc. boosted its stake 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 worth $290,000 after buying an additional 39 shares during the last quarter. Steele Capital Management Inc. boosted its stake in shares of Illinois Tool Works by 4.9% during the 2nd 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. EP Wealth Advisors LLC boosted its stake in shares of Illinois Tool Works by 1.0% during the 1st quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock worth $1,178,000 after buying an additional 42 shares during the last quarter. Procyon Advisors LLC boosted its stake in shares of Illinois Tool Works by 2.7% during the 3rd quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock worth $422,000 after buying an additional 43 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its stake in shares of Illinois Tool Works by 8.1% during the 2nd quarter. Centaurus Financial Inc. now owns 614 shares of the industrial products company’s stock worth $145,000 after buying an additional 46 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ITW has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Evercore ISI dropped their target price on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Truist Financial upped their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $256.40.

Illinois Tool Works Stock Up 1.0 %

Illinois Tool Works stock opened at $266.43 on Wednesday. The stock has a market cap of $78.68 billion, a P/E ratio of 23.05, a P/E/G ratio of 3.84 and a beta of 1.10. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a twelve month low of $227.66 and a twelve month high of $271.15. The company’s 50-day moving average price is $256.24 and its two-hundred day moving average price is $247.61.

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 for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the prior year, the firm earned $2.55 EPS. The business’s revenue was down 1.6% on a year-over-year basis. As a group, analysts expect that Illinois Tool Works Inc. will post 10.75 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.25%. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

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.