Moloney Securities Asset Management LLC Takes $205,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Moloney Securities Asset Management LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 782 shares of the industrial products company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ITW. Nikulski Financial Inc. lifted its position in shares of Illinois Tool Works by 3.6% in the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after acquiring an additional 39 shares during the period. Steele Capital Management Inc. raised its stake in shares of Illinois Tool Works by 4.9% in the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 40 shares in the last quarter. EP Wealth Advisors LLC lifted its position in Illinois Tool Works by 1.0% in the first quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock worth $1,178,000 after purchasing an additional 42 shares during the period. Procyon Advisors LLC increased its holdings in Illinois Tool Works by 2.7% in the 3rd quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock valued at $422,000 after buying an additional 43 shares during the period. Finally, Centaurus Financial Inc. raised its stake in shares of Illinois Tool Works by 8.1% in the 2nd quarter. Centaurus Financial Inc. now owns 614 shares of the industrial products company’s stock valued at $145,000 after buying an additional 46 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on ITW shares. Robert W. Baird upped their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Truist Financial raised their target price on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus upped their price target on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, Jefferies Financial Group lowered their target price on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $256.40.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $272.87 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $80.58 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 3.85 and a beta of 1.10. The firm’s 50 day moving average is $256.78 and its 200-day moving average is $247.80. Illinois Tool Works Inc. has a 1 year low of $227.66 and a 1 year high of $277.58.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data 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 firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $2.55 EPS. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.75 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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

Illinois Tool Works Company 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.