Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Liberty Capital Management Inc.

Liberty Capital Management Inc. lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,406 shares of the industrial products company’s stock after selling 166 shares during the period. Illinois Tool Works comprises 1.3% of Liberty Capital Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Liberty Capital Management Inc.’s holdings in Illinois Tool Works were worth $5,872,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ITW. AXA S.A. boosted its position in shares of Illinois Tool Works by 242.3% during the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock worth $80,888,000 after acquiring an additional 241,618 shares in the last quarter. Guinness Asset Management LTD increased its stake in Illinois Tool Works by 30.7% in the second quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company’s stock valued at $181,926,000 after purchasing an additional 180,458 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Illinois Tool Works by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock worth $361,998,000 after purchasing an additional 133,853 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Illinois Tool Works by 2,334.0% during the 1st quarter. SG Americas Securities LLC now owns 127,152 shares of the industrial products company’s stock worth $34,119,000 after buying an additional 121,928 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Illinois Tool Works by 75.1% in the 2nd quarter. Renaissance Technologies LLC now owns 258,000 shares of the industrial products company’s stock valued at $61,136,000 after buying an additional 110,673 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 0.5 %

Shares of NYSE ITW opened at $257.08 on Wednesday. The firm’s 50-day moving average is $253.18 and its two-hundred day moving average is $247.27. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. Illinois Tool Works Inc. has a 12-month low of $217.50 and a 12-month high of $271.15. The company has a market capitalization of $76.71 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. Illinois Tool Works’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.41 earnings per share. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio is 59.17%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Evercore ISI decreased 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. Argus raised Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Truist Financial upped their price objective on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Jefferies Financial Group cut their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Finally, Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.