Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 26.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,803 shares of the industrial products company’s stock after purchasing an additional 1,623 shares during the period. GAMMA Investing LLC’s holdings in Illinois Tool Works were worth $1,979,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp raised its stake in Illinois Tool Works by 1.2% in the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after purchasing an additional 149,272 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Illinois Tool Works by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after purchasing an additional 167,422 shares during the period. Fisher Asset Management LLC grew its position in shares of Illinois Tool Works by 4.2% in the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after purchasing an additional 135,023 shares during the period. Legal & General Group Plc increased its stake in Illinois Tool Works by 2.4% in the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after purchasing an additional 62,645 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Illinois Tool Works by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock worth $484,685,000 after buying an additional 32,656 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ITW. Jefferies Financial Group upped their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Truist Financial increased their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and an average price target of $268.50.

Illinois Tool Works Stock Down 1.4 %

NYSE ITW opened at $250.03 on Friday. 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 fifty-two week low of $232.77 and a fifty-two week high of $279.13. The business has a 50 day moving average price of $267.18 and a two-hundred day moving average price of $254.55. The stock has a market cap of $73.83 billion, a PE ratio of 21.63, a P/E/G ratio of 4.22 and a beta of 1.10.

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 analysts’ consensus estimates 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 period last year, the business earned $2.55 EPS. The business’s revenue was down 1.6% on a year-over-year basis. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

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.