Godsey & Gibb Inc. Decreases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Godsey & Gibb Inc. trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 7.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628 shares of the industrial products company’s stock after selling 50 shares during the quarter. Godsey & Gibb Inc.’s holdings in Illinois Tool Works were worth $165,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ITW. Allspring Global Investments Holdings LLC increased its holdings in shares of Illinois Tool Works by 66.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 23,188 shares of the industrial products company’s stock worth $6,077,000 after buying an additional 9,271 shares during the last quarter. Vest Financial LLC increased its holdings in Illinois Tool Works by 15.6% in the 3rd quarter. Vest Financial LLC now owns 203,528 shares of the industrial products company’s stock valued at $53,339,000 after purchasing an additional 27,447 shares during the last quarter. Petix & Botte Co acquired a new stake in Illinois Tool Works in the 3rd quarter valued at approximately $204,000. New Century Financial Group LLC increased its holdings in Illinois Tool Works by 21.3% in the 3rd quarter. New Century Financial Group LLC now owns 1,379 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 242 shares during the last quarter. Finally, Veracity Capital LLC acquired a new stake in Illinois Tool Works in the 3rd quarter valued at approximately $224,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of ITW opened at $261.03 on Monday. Illinois Tool Works Inc. has a 1-year low of $217.50 and a 1-year high of $271.15. The stock has a market cap of $77.89 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 4.10 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. The firm has a fifty day moving average price of $252.37 and a 200 day moving average price of $247.33.

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

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, September 30th. Illinois Tool Works’s dividend payout ratio is presently 59.17%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Truist Financial boosted their price target 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. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Jefferies Financial Group dropped their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. JPMorgan Chase & Co. boosted their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI dropped their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $255.44.

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.