Allworth Financial LP Grows Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Allworth Financial LP lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 68.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,629 shares of the industrial products company's stock after purchasing an additional 1,889 shares during the period. Allworth Financial LP's holdings in Illinois Tool Works were worth $1,200,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ITW. Pensionfund Sabic lifted its stake in Illinois Tool Works by 37.0% in the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company's stock worth $1,876,000 after acquiring an additional 2,000 shares during the last quarter. Franklin Resources Inc. lifted its stake in Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock worth $358,321,000 after acquiring an additional 398,676 shares during the last quarter. Clark & Stuart Inc purchased a new position in Illinois Tool Works in the fourth quarter worth approximately $1,729,000. Czech National Bank lifted its stake in Illinois Tool Works by 5.9% in the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company's stock worth $14,774,000 after acquiring an additional 3,227 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in Illinois Tool Works in the third quarter worth approximately $1,179,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Performance

ITW traded down $1.93 during trading on Friday, hitting $263.61. The stock had a trading volume of 390,498 shares, compared to its average volume of 948,453. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The firm has a market capitalization of $77.37 billion, a P/E ratio of 22.48, a PEG ratio of 4.52 and a beta of 1.11. The company's 50-day moving average price is $257.23 and its 200 day moving average price is $258.12. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts' consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.41 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.28%. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of Illinois Tool Works from $265.00 to $262.00 and set an "equal weight" rating for the company in a research report on Friday, February 7th. Citigroup reduced their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a research report on Monday, January 13th. Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research report on Thursday, February 6th. Jefferies Financial Group boosted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective for the company in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $269.30.

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.