LPL Financial LLC Has $117.43 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

by · The Markets Daily

LPL Financial LLC lifted its stake in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 6.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 448,100 shares of the industrial products company’s stock after purchasing an additional 28,518 shares during the quarter. LPL Financial LLC owned 0.15% of Illinois Tool Works worth $117,434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ITW. Canada Pension Plan Investment Board boosted its stake in Illinois Tool Works by 814,660.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 81,476 shares of the industrial products company’s stock worth $21,862,000 after purchasing an additional 81,466 shares during the period. LRI Investments LLC purchased a new position in shares of Illinois Tool Works during the first quarter valued at $184,000. PEAK6 Investments LLC raised its position in Illinois Tool Works by 17.5% during the first 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 during the period. Kestra Advisory Services LLC lifted its stake in Illinois Tool Works by 15.0% in the 1st quarter. Kestra Advisory Services LLC now owns 61,664 shares of the industrial products company’s stock worth $16,549,000 after acquiring an additional 8,027 shares in the last quarter. Finally, BOKF NA boosted its position in Illinois Tool Works by 2.6% during the 1st quarter. BOKF NA now owns 16,476 shares of the industrial products company’s stock worth $4,370,000 after acquiring an additional 416 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ITW shares. Barclays increased their price target on shares of Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Robert W. Baird upped their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Argus raised Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Truist Financial upped 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. Four research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and an average target price of $257.30.

View Our Latest Report on Illinois Tool Works

Illinois Tool Works Stock Up 1.5 %

Shares of Illinois Tool Works stock opened at $273.94 on Friday. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $277.58. The stock has a 50 day moving average price of $262.20 and a two-hundred day moving average price of $249.80. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $80.89 billion, a P/E ratio of 23.70, a PEG ratio of 4.13 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The company 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%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.55 earnings per share. Equities analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.19%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Illinois Tool Works Company Profile

(Free Report)

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.

Further Reading

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