Borer Denton & Associates Inc. Acquires 410 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Borer Denton & Associates Inc. lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 38,971 shares of the industrial products company’s stock after purchasing an additional 410 shares during the quarter. Illinois Tool Works comprises 3.5% of Borer Denton & Associates Inc.’s holdings, making the stock its 11th biggest position. Borer Denton & Associates Inc.’s holdings in Illinois Tool Works were worth $10,213,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ITW. Financial Connections Group Inc. bought a new stake in shares of Illinois Tool Works during the second quarter worth $30,000. Fairscale Capital LLC bought a new position in Illinois Tool Works during the 2nd quarter worth 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 bought a new stake in shares of Illinois Tool Works in the third quarter valued at about $35,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Illinois Tool Works by 261.4% during the second 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 during the period. 79.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on ITW shares. Barclays boosted their target price on Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Truist Financial increased their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Robert W. Baird raised their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and an average price target of $257.30.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $273.95 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 of $262.20 and a 200-day moving average of $249.82. 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 company has a market capitalization of $80.90 billion, a P/E ratio of 23.70, a P/E/G ratio of 4.18 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion for 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 company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.55 earnings per share. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

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.