Catalyst Capital Advisors LLC Acquires Shares of 123 Illinois Tool Works Inc. (NYSE:ITW)

Catalyst Capital Advisors LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 123 shares of the industrial products company’s stock, valued at approximately $32,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. PEAK6 Investments LLC increased its stake in shares of Illinois Tool Works by 17.5% during the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 140 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in 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 worth $9,907,000 after buying an additional 16,216 shares during the last quarter. Handelsbanken Fonder AB increased its stake in Illinois Tool Works by 7.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock worth $37,999,000 after buying an additional 9,825 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Illinois Tool Works by 28.6% in the first quarter. Russell Investments Group Ltd. now owns 201,720 shares of the industrial products company’s stock valued at $54,122,000 after acquiring an additional 44,898 shares in the last quarter. Finally, BDF Gestion acquired a new stake in shares of Illinois Tool Works in the second quarter worth approximately $1,727,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.9 %

ITW stock opened at $272.87 on Friday. Illinois Tool Works Inc. has a one year low of $227.66 and a one year high of $277.58. The firm has a market cap of $80.58 billion, a PE ratio of 23.60, a PEG ratio of 3.85 and a beta of 1.10. The firm’s 50 day moving average price is $256.78 and its 200-day moving average price is $247.80. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.55 earnings per share. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.75 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ITW. Evercore ISI reduced their price objective on 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. Robert W. Baird raised their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Truist Financial upped their price target on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $256.40.

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.