Pathstone Holdings LLC Buys 994 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Pathstone Holdings LLC increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,783 shares of the industrial products company’s stock after purchasing an additional 994 shares during the quarter. Pathstone Holdings LLC’s holdings in Illinois Tool Works were worth $13,590,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Financial Connections Group Inc. bought a new position in Illinois Tool Works in the 2nd quarter worth $30,000. Fairscale Capital LLC bought a new position in Illinois Tool Works in the 2nd quarter worth $30,000. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the 3rd quarter worth $32,000. Northwest Investment Counselors LLC bought a new position in Illinois Tool Works in the 3rd quarter worth $35,000. Finally, Meeder Asset Management Inc. increased its stake in Illinois Tool Works by 261.4% in the 2nd 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. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Trading Down 0.0 %

ITW opened at $266.38 on Thursday. The firm has a market cap of $78.66 billion, a P/E ratio of 23.04, a P/E/G ratio of 4.19 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $277.58. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The stock has a 50-day moving average of $261.33 and a 200 day moving average of $249.46.

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

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.25%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of analyst reports. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price target for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Stifel Nicolaus increased their price target on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Truist Financial increased their price target on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised 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. 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus 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.