Lincoln National Corp Has $1.24 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Lincoln National Corp boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,839 shares of the industrial products company’s stock after buying an additional 334 shares during the period. Lincoln National Corp’s holdings in Illinois Tool Works were worth $1,235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hexagon Capital Partners LLC acquired a new position in shares of Illinois Tool Works in the 3rd quarter valued at about $26,000. CNB Bank increased its holdings in shares of Illinois Tool Works by 723.1% in the 2nd quarter. CNB Bank now owns 214 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 188 shares during the period. JFS Wealth Advisors LLC grew its stake in shares of Illinois Tool Works by 51.0% in the 3rd quarter. JFS Wealth Advisors LLC now owns 237 shares of the industrial products company’s stock valued at $43,000 after buying an additional 80 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Illinois Tool Works in the 3rd quarter valued at approximately $43,000. Finally, Chilton Capital Management LLC bought a new stake in shares of Illinois Tool Works in the 2nd quarter valued at approximately $44,000. Institutional investors and hedge funds own 79.83% of the company’s stock.

Insiders Place Their Bets

In related news, Director David Byron Smith, Jr. acquired 1,390 shares of the company’s stock in a transaction on Friday, December 9th. The stock was purchased at an average cost of $221.81 per share, for a total transaction of $308,315.90. Following the completion of the purchase, the director now directly owns 118,994 shares of the company’s stock, valued at approximately $26,394,059.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.78% of the company’s stock.

Analysts Set New Price Targets

ITW has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price target on Illinois Tool Works from $165.00 to $171.00 in a research note on Wednesday, October 26th. Citigroup upped their target price on Illinois Tool Works from $202.00 to $232.00 and gave the stock a “neutral” rating in a research report on Friday, December 9th. Credit Suisse Group upped their target price on Illinois Tool Works from $229.00 to $243.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 26th. Morgan Stanley upped their target price on Illinois Tool Works from $172.00 to $174.00 and gave the stock an “underweight” rating in a research report on Friday, January 6th. Finally, StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, October 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $207.64.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $229.35 on Wednesday. The business has a fifty day simple moving average of $224.70 and a 200 day simple moving average of $208.68. The company has a current ratio of 1.41, a quick ratio of 0.95 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $70.45 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 3.25 and a beta of 1.11. Illinois Tool Works Inc. has a one year low of $173.52 and a one year high of $247.00.

Illinois Tool Works (NYSE:ITW – Get Rating) last issued its earnings results on Tuesday, October 25th. The industrial products company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.10. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.90 billion. Illinois Tool Works had a return on equity of 80.65% and a net margin of 17.49%. Illinois Tool Works’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.02 earnings per share. Sell-side analysts expect that Illinois Tool Works Inc. will post 9.46 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 12th. Shareholders of record on Friday, December 30th were paid a dividend of $1.31 per share. The ex-dividend date was Thursday, December 29th. This represents a $5.24 annualized dividend and a yield of 2.28%. Illinois Tool Works’s dividend payout ratio is currently 59.82%.

Illinois Tool Works Company Profile

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Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.