Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,875 shares of the industrial products company’s stock after purchasing an additional 646 shares during the period. Metis Global Partners LLC’s holdings in Illinois Tool Works were worth $3,636,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works during the second quarter worth about $30,000. Fairscale Capital LLC purchased a new stake in Illinois Tool Works during the 2nd quarter worth approximately $30,000. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works in the 3rd quarter valued at approximately $32,000. Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. grew its position in shares of Illinois Tool Works by 261.4% during the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after buying an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ITW shares. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $246.00 to $255.00 in a research note on Wednesday. Stifel Nicolaus increased 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 report on Wednesday, October 16th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Truist Financial increased their target price on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company upped their price target on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $257.30.

Illinois Tool Works Stock Performance

ITW stock opened at $269.89 on Friday. The stock’s fifty day moving average is $259.02 and its two-hundred day moving average is $248.61. The stock has a market capitalization of $79.70 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 4.23 and a beta of 1.10. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $277.58.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. Illinois Tool Works’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.55 EPS. On average, research analysts predict that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Dividend Announcement

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

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.