Jade Capital Advisors LLC Invests $1.31 Million in Illinois Tool Works Inc. (NYSE:ITW)

Jade Capital Advisors LLC bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the third quarter, according to its most recent filing with the SEC. The firm bought 5,000 shares of the industrial products company’s stock, valued at approximately $1,310,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ITW. Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works during the 1st quarter worth about $34,000. Global Assets Advisory LLC acquired a new position in shares of Illinois Tool Works during the first quarter worth approximately $7,259,000. Austin Private Wealth LLC boosted its position in shares of Illinois Tool Works by 6.8% in the first quarter. Austin Private Wealth LLC now owns 1,163 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 74 shares during the period. Gateway Investment Advisers LLC grew its stake in shares of Illinois Tool Works by 43.9% in the first quarter. Gateway Investment Advisers LLC now owns 2,613 shares of the industrial products company’s stock worth $701,000 after acquiring an additional 797 shares during the last quarter. Finally, Fermata Advisors LLC bought a new position in Illinois Tool Works during the first quarter worth $367,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ITW has been the subject of a number of research reports. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Truist Financial lifted their target price on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Jefferies Financial Group cut their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Barclays reduced their price objective on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and an average target price of $255.44.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $258.37 on Tuesday. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. The stock’s fifty day simple moving average is $252.81 and its 200 day simple moving average is $247.31. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The firm has a market cap of $77.10 billion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the firm earned $2.41 EPS. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, analysts expect that Illinois Tool Works Inc. will post 10.18 earnings per share 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. Stockholders of record on Monday, September 30th were issued a $1.50 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Monday, September 30th. Illinois Tool Works’s payout ratio is presently 59.17%.

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.