Bank of Montreal Can Purchases 7,232 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Bank of Montreal Can grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 555,328 shares of the industrial products company’s stock after acquiring an additional 7,232 shares during the quarter. Bank of Montreal Can’s holdings in Illinois Tool Works were worth $146,590,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. PEAK6 Investments LLC raised its position in shares of Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after buying an additional 140 shares in the last quarter. Janus Henderson Group PLC raised its position in Illinois Tool Works by 30.2% during the first quarter. Janus Henderson Group PLC now owns 51,969 shares of the industrial products company’s stock valued at $13,945,000 after purchasing an additional 12,051 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of Illinois Tool Works by 10.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 10,930 shares of the industrial products company’s stock valued at $2,933,000 after purchasing an additional 1,017 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Illinois Tool Works by 0.5% in the 1st quarter. California State Teachers Retirement System now owns 491,979 shares of the industrial products company’s stock worth $132,013,000 after purchasing an additional 2,610 shares during the period. Finally, Tidal Investments LLC boosted its holdings in shares of Illinois Tool Works by 70.1% in the 1st quarter. Tidal Investments LLC now owns 17,292 shares of the industrial products company’s stock worth $4,640,000 after purchasing an additional 7,125 shares during the period. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of ITW opened at $276.37 on Tuesday. The stock has a market capitalization of $81.61 billion, a PE ratio of 23.91, a PEG ratio of 4.25 and a beta of 1.10. The company has a 50 day moving average price of $262.63 and a 200-day moving average price of $250.02. 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 fifty-two week low of $232.77 and a fifty-two week high of $277.94.

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

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ITW. Robert W. Baird raised their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Truist Financial upped their target price 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. Four research analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $257.30.

Illinois Tool Works Company 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.