UniSuper Management Pty Ltd Purchases 3,373 Shares of Illinois Tool Works Inc. $ITW

UniSuper Management Pty Ltd increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 16.8% in the 3rd quarter, Holdings Channel reports. The firm owned 23,479 shares of the industrial products company’s stock after buying an additional 3,373 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Illinois Tool Works were worth $6,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of ITW. Frazier Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 2nd quarter valued at about $25,000. SOA Wealth Advisors LLC. raised its position in Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Corsicana & Co. bought a new position in Illinois Tool Works during the third quarter worth about $26,000. Vermillion & White Wealth Management Group LLC boosted its holdings in Illinois Tool Works by 103.3% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 124 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 63 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Illinois Tool Works during the second quarter valued at approximately $31,000. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of several recent analyst reports. Truist Financial decreased their price target on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday, October 27th. Bank of America raised Illinois Tool Works from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $220.00 to $255.00 in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Wolfe Research increased their target price on shares of Illinois Tool Works from $264.00 to $278.00 and gave the stock an “underperform” rating in a research report on Thursday, January 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $261.08.

Insider Buying and Selling

In other news, Director Pamela B. Strobel sold 1,521 shares of Illinois Tool Works stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the sale, the director directly owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Down 0.6%

Shares of NYSE:ITW opened at $258.09 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The firm has a market cap of $74.87 billion, a P/E ratio of 25.03, a P/E/G ratio of 13.88 and a beta of 1.15. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $278.13. The company’s 50-day moving average price is $251.58 and its two-hundred day moving average price is $254.87.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period in the prior year, the business earned $3.91 earnings per share. Illinois Tool Works’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were issued a dividend of $1.61 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.44 annualized dividend and a yield of 2.5%. Illinois Tool Works’s dividend payout ratio is currently 62.46%.

Illinois Tool Works Profile

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.