Jackson Square Capital LLC Has $822,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Jackson Square Capital LLC increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 93.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,136 shares of the industrial products company’s stock after buying an additional 1,519 shares during the quarter. Jackson Square Capital LLC’s holdings in Illinois Tool Works were worth $822,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITW. Financial Connections Group Inc. acquired a new stake in shares of Illinois Tool Works in the 2nd quarter valued at about $30,000. Fairscale Capital LLC acquired a new stake in shares of Illinois Tool Works in the 2nd quarter valued at about $30,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at about $32,000. Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at about $35,000. Finally, Meeder Asset Management Inc. raised its stake in shares of 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 valued at $38,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 3.4 %

Shares of NYSE:ITW opened at $275.47 on Thursday. Illinois Tool Works Inc. has a 12-month low of $227.66 and a 12-month high of $277.58. The stock has a market cap of $81.35 billion, a PE ratio of 23.83, a P/E/G ratio of 3.85 and a beta of 1.10. The business has a 50 day moving average of $256.78 and a 200-day moving average of $247.80. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the company posted $2.55 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.75 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 given a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.18%. Illinois Tool Works’s payout ratio is 51.90%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ITW shares. Robert W. Baird lifted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” 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. Stifel Nicolaus lifted their target price on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Finally, Truist Financial lifted their price target on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $256.40.

About Illinois Tool Works

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.