The Manufacturers Life Insurance Company Buys 114 Shares of Illinois Tool Works Inc. (NYSE:ITW)

The Manufacturers Life Insurance Company raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 167,775 shares of the industrial products company’s stock after acquiring an additional 114 shares during the period. The Manufacturers Life Insurance Company’s holdings in Illinois Tool Works were worth $43,969,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Fisher Asset Management LLC lifted its stake in Illinois Tool Works by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after acquiring an additional 135,023 shares in the last quarter. Legal & General Group Plc lifted its stake in Illinois Tool Works by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after acquiring an additional 62,645 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Illinois Tool Works by 9.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock valued at $361,998,000 after purchasing an additional 133,853 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Illinois Tool Works by 0.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,247,066 shares of the industrial products company’s stock valued at $326,819,000 after purchasing an additional 9,563 shares during the last quarter. Finally, Guinness Asset Management LTD increased its position in shares of Illinois Tool Works by 4.6% during the 3rd quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock valued at $210,447,000 after purchasing an additional 35,145 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Down 0.2 %

Shares of ITW opened at $276.04 on Friday. The business has a 50-day moving average of $263.89 and a 200 day moving average of $250.57. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The firm has a market cap of $81.51 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate 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 business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the company earned $2.55 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.17%. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ITW shares. Stifel Nicolaus raised 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. Wells Fargo & Company raised 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. Truist Financial raised 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. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Barclays raised 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. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.