Gladius Capital Management LP Sells 104 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Gladius Capital Management LP trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,678 shares of the industrial products company’s stock after selling 104 shares during the quarter. Illinois Tool Works makes up about 0.1% of Gladius Capital Management LP’s portfolio, making the stock its 24th largest holding. Gladius Capital Management LP’s holdings in Illinois Tool Works were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in ITW. Nikulski Financial Inc. lifted its stake in shares of Illinois Tool Works by 3.6% in the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after buying an additional 39 shares in the last quarter. Steele Capital Management Inc. lifted its position in Illinois Tool Works by 4.9% in the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock valued at $206,000 after acquiring an additional 40 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in Illinois Tool Works by 2.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 40 shares during the last quarter. Sigma Planning Corp increased its holdings in Illinois Tool Works by 0.9% during the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after purchasing an additional 41 shares in the last quarter. Finally, Harbour Investments Inc. raised its stake in shares of Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Robert W. Baird lifted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Truist Financial raised their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Stifel Nicolaus upped their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $257.30.

Illinois Tool Works Stock Up 0.3 %

Illinois Tool Works stock opened at $270.62 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $79.91 billion, a P/E ratio of 23.41, a P/E/G ratio of 4.19 and a beta of 1.10. The firm has a 50 day moving average price of $260.09 and a 200-day moving average price of $248.94. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $277.58.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the business posted $2.55 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

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.