Boston Trust Walden Corp Raises Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Boston Trust Walden Corp raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 213,006 shares of the industrial products company’s stock after purchasing an additional 9,237 shares during the period. Boston Trust Walden Corp owned 0.07% of Illinois Tool Works worth $55,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Steele Capital Management Inc. raised its stake in shares of Illinois Tool Works by 4.9% during the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 40 shares in the last quarter. EP Wealth Advisors LLC increased its position in shares of Illinois Tool Works by 1.0% during 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 in the last quarter. Procyon Advisors LLC lifted its holdings in shares of Illinois Tool Works by 2.7% during the 3rd quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock valued at $422,000 after purchasing an additional 43 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Illinois Tool Works by 3.0% in the 1st quarter. Proficio Capital Partners LLC now owns 1,490 shares of the industrial products company’s stock worth $400,000 after purchasing an additional 44 shares in the last quarter. Finally, Carson Advisory Inc. increased its position in Illinois Tool Works by 3.0% during the 1st quarter. Carson Advisory Inc. now owns 1,552 shares of the industrial products company’s stock valued at $417,000 after buying an additional 45 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Performance

Shares of NYSE ITW traded down $1.45 during trading on Friday, reaching $254.08. 730,755 shares of the company traded hands, compared to its average volume of 727,109. Illinois Tool Works Inc. has a 12-month low of $221.82 and a 12-month 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 $75.82 billion, a P/E ratio of 25.06, a PEG ratio of 4.10 and a beta of 1.10. The firm’s fifty day simple moving average is $254.08 and its 200 day simple moving average is $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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. Illinois Tool Works’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.41 earnings per share. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.36%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.17%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ITW shares. Truist Financial raised their price target on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target 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. Evercore ISI lowered their price objective 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. Stifel Nicolaus upped their target price 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. Finally, Barclays lowered their price target on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and an average target price of $255.44.

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.