Planning Capital Management Corp Sells 194 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Planning Capital Management Corp decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 31.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 414 shares of the industrial products company’s stock after selling 194 shares during the quarter. Planning Capital Management Corp’s holdings in Illinois Tool Works were worth $108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Nikulski Financial Inc. increased its holdings in shares of Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after acquiring an additional 39 shares in the last quarter. Steele Capital Management Inc. boosted its position in shares of Illinois Tool Works by 4.9% during the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock valued at $206,000 after buying an additional 40 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of Illinois Tool Works by 2.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after buying an additional 40 shares during the last quarter. Sigma Planning Corp boosted its position in shares of Illinois Tool Works by 0.9% during the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after buying an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in shares of Illinois Tool Works by 1.1% during the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after buying an additional 41 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.6 %

Shares of NYSE ITW opened at $272.96 on Thursday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $277.58. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The business’s fifty day moving average price is $259.02 and its 200-day moving average price is $248.61. The stock has a market capitalization of $80.61 billion, a PE ratio of 23.61, a P/E/G ratio of 4.21 and a beta of 1.10.

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

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid 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 dividend yield of 2.20%. Illinois Tool Works’s payout ratio is 51.90%.

Analysts Set New Price Targets

Several research analysts recently issued reports on ITW shares. Truist Financial lifted their target price on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company lifted their target price 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. Robert W. Baird lifted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays lifted their target price on Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Finally, Argus raised Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $257.30.

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.