Valeo Financial Advisors LLC Has $807,000 Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Valeo Financial Advisors LLC cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 14.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,080 shares of the industrial products company’s stock after selling 525 shares during the period. Valeo Financial Advisors LLC’s holdings in Illinois Tool Works were worth $807,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. PEAK6 Investments LLC grew its stake in shares of Illinois Tool Works by 17.5% in the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after buying an additional 140 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Illinois Tool Works in the 1st quarter valued at about $1,147,000. Norden Group LLC increased its stake in shares of Illinois Tool Works by 1,889.1% during the 1st quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after purchasing an additional 25,144 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Illinois Tool Works by 78.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock valued at $9,907,000 after purchasing an additional 16,216 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in Illinois Tool Works by 7.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock valued at $37,999,000 after purchasing an additional 9,825 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on ITW. Wells Fargo & Company upped their price objective on 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 raised their price target on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI decreased their price objective 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. Barclays cut their target price on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus decreased 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 research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $255.22.

Illinois Tool Works Trading Up 1.5 %

Shares of ITW stock opened at $260.59 on Monday. The stock has a 50 day simple moving average of $250.13 and a 200 day simple moving average of $247.50. Illinois Tool Works Inc. has a 1 year low of $217.50 and a 1 year high of $271.15. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. The stock has a market cap of $77.37 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the firm posted $2.41 EPS. Illinois Tool Works’s quarterly revenue was down 1.2% on a year-over-year basis. On average, research analysts predict that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio is 58.82%.

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.