Simplicity Wealth LLC Has $1.13 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Simplicity Wealth LLC cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 60.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,293 shares of the industrial products company’s stock after selling 6,432 shares during the quarter. Simplicity Wealth LLC’s holdings in Illinois Tool Works were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fiduciary Financial Group LLC raised its position in Illinois Tool Works by 4.2% during the third quarter. Fiduciary Financial Group LLC now owns 1,308 shares of the industrial products company’s stock valued at $334,000 after acquiring an additional 53 shares in the last quarter. Peak Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at $202,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Illinois Tool Works by 243.2% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,056 shares of the industrial products company’s stock worth $541,000 after purchasing an additional 1,457 shares in the last quarter. Fermata Advisors LLC lifted its position in shares of Illinois Tool Works by 14.4% in the third quarter. Fermata Advisors LLC now owns 1,137 shares of the industrial products company’s stock worth $298,000 after buying an additional 143 shares during the last quarter. Finally, JGP Wealth Management LLC boosted its stake in shares of Illinois Tool Works by 1.1% during the 3rd quarter. JGP Wealth Management LLC now owns 40,768 shares of the industrial products company’s stock worth $10,684,000 after acquiring an additional 426 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ITW shares. JPMorgan Chase & Co. upped their target price on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Barclays decreased their target price on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 31st. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $255.22.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $260.59 on Friday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15. The company’s 50 day moving average price is $250.13 and its two-hundred day moving average price is $247.65. The company has a market capitalization 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 issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $2.41 earnings per share. On average, analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a dividend of $1.50 per share. The ex-dividend date was Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.30%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 58.82%.

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.