Illinois Tool Works Inc. (NYSE:ITW) Position Lifted by Arkadios Wealth Advisors

Arkadios Wealth Advisors increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 11.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,203 shares of the industrial products company's stock after purchasing an additional 2,217 shares during the quarter. Arkadios Wealth Advisors' holdings in Illinois Tool Works were worth $5,376,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nikulski Financial Inc. grew its position in shares of Illinois Tool Works by 3.6% in the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company's stock valued at $290,000 after purchasing an additional 39 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in Illinois Tool Works by 2.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company's stock valued at $423,000 after buying an additional 40 shares during the period. Sigma Planning Corp increased its stake in shares of Illinois Tool Works by 0.9% during the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company's stock valued at $1,216,000 after acquiring an additional 41 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of Illinois Tool Works by 1.1% during the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company's stock worth $957,000 after acquiring an additional 41 shares during the period. Finally, Procyon Advisors LLC boosted its position in shares of Illinois Tool Works by 2.7% in the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company's stock worth $422,000 after acquiring an additional 43 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 0.2 %

Illinois Tool Works stock traded up $0.57 during midday trading on Friday, hitting $256.50. 844,760 shares of the company were exchanged, compared to its average volume of 768,759. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company's fifty day moving average price is $264.26 and its 200-day moving average price is $255.59. The company has a market cap of $75.74 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the firm earned $2.55 earnings per share. The business's quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works's payout ratio is 51.90%.

Wall Street Analyst Weigh In

ITW has been the subject of several research analyst reports. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a "hold" rating in a research report on Wednesday, December 11th. Truist Financial increased their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. StockNews.com downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Citigroup cut their price objective on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a report on Monday, January 13th. Finally, Barclays decreased their target price on Illinois Tool Works from $270.00 to $265.00 and set an "equal weight" rating for the company in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $270.11.

Illinois Tool Works Company 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.