Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Arkadios Wealth Advisors

Arkadios Wealth Advisors increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,986 shares of the industrial products company’s stock after purchasing an additional 315 shares during the period. Arkadios Wealth Advisors’ holdings in Illinois Tool Works were worth $4,976,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. PEAK6 Investments LLC lifted its holdings in shares of Illinois Tool Works by 17.5% in the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 140 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Illinois Tool Works during the 1st quarter valued at $1,147,000. Norden Group LLC raised its stake in Illinois Tool Works by 1,889.1% during the 1st quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock valued at $7,103,000 after acquiring an additional 25,144 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Illinois Tool Works by 78.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock valued at $9,907,000 after acquiring an additional 16,216 shares in the last quarter. Finally, Handelsbanken Fonder AB raised 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 valued at $37,999,000 after acquiring an additional 9,825 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.6 %

Shares of ITW stock traded down $1.45 on Friday, reaching $254.08. 730,755 shares of the company’s stock 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 debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. The company has a market capitalization of $75.82 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The business’s 50 day moving average price is $253.83 and its two-hundred day moving average price is $247.39.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data 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 firm had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.41 earnings per share. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently commented on ITW shares. Barclays dropped their price objective on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 31st. Evercore ISI dropped their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. JPMorgan Chase & Co. lifted their target price on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group decreased their target price on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Finally, Wells Fargo & Company lifted their target price on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $255.44.

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.