Peak Financial Advisors LLC Invests $202,000 in Illinois Tool Works Inc. (NYSE:ITW)

by · The Markets Daily

Peak Financial Advisors LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 772 shares of the industrial products company’s stock, valued at approximately $202,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Fairscale Capital LLC acquired a new stake in shares of Illinois Tool Works during the second quarter worth approximately $30,000. Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works during the 1st quarter valued at $34,000. Financial Connections Group Inc. acquired a new position in Illinois Tool Works in the second quarter worth $30,000. Rise Advisors LLC bought a new stake in shares of Illinois Tool Works during the first quarter worth $35,000. Finally, General Partner Inc. acquired a new stake in shares of Illinois Tool Works in the first quarter valued at $35,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $260.59 on Friday. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. The business has a 50-day moving average of $250.13 and a 200-day moving average of $247.77. The stock has a market capitalization of $77.37 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a fifty-two week low of $217.50 and a fifty-two week high of $271.15.

Illinois Tool Works (NYSE:ITW – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.09. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.41 earnings per share. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $1.50 per share. The ex-dividend date was Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.30%. Illinois Tool Works’s dividend payout ratio (DPR) is 58.82%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ITW. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Truist Financial upped their price target on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company lifted their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Finally, Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $255.22.

Check Out Our Latest Stock Analysis on ITW

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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