Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 5,462 shares of the industrial products company’s stock after acquiring an additional 100 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Illinois Tool Works were worth $1,431,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ITW. Capital Research Global Investors lifted its holdings in shares of Illinois Tool Works by 1.2% during the first quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock worth $1,171,006,000 after purchasing an additional 51,654 shares during the period. Legal & General Group Plc boosted its holdings in shares of Illinois Tool Works by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after acquiring an additional 62,645 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Illinois Tool Works by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock worth $361,998,000 after acquiring an additional 133,853 shares during the period. Guinness Asset Management LTD raised its holdings in shares of Illinois Tool Works by 4.6% during the third quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock worth $210,447,000 after purchasing an additional 35,145 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Illinois Tool Works by 7.3% in the second quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock valued at $176,047,000 after purchasing an additional 50,753 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of ITW opened at $270.62 on Monday. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $277.58. The stock has a market cap of $79.91 billion, a PE ratio of 23.41, a P/E/G ratio of 4.19 and a beta of 1.10. The firm has a 50-day simple moving average of $260.09 and a two-hundred day simple moving average of $248.98. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS 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 business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the firm posted $2.55 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.22%. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ITW. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price objective for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. 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 research note on Wednesday, October 9th. Finally, Wells Fargo & Company raised 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. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $257.30.

Illinois Tool Works 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.