Board of the Pension Protection Fund purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,500 shares of the industrial products company's stock, valued at approximately $634,000.
Other large investors have also recently modified their holdings of the company. Fairscale Capital LLC bought a new position in shares of Illinois Tool Works during the second quarter valued at $30,000. True Wealth Design LLC lifted its stake in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 106 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter valued at about $32,000. Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works in the third quarter worth approximately $35,000. Finally, Financial Management Professionals Inc. raised its holdings in shares of Illinois Tool Works by 28.0% during the third quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.
Illinois Tool Works Price Performance
NYSE:ITW traded up $1.02 during trading hours on Wednesday, hitting $253.99. 712,557 shares of the stock traded hands, compared to its average volume of 890,329. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The company has a market cap of $75.00 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 4.22 and a beta of 1.11. The stock has a 50 day moving average price of $265.34 and a 200 day moving average price of $255.30.
Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS 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 firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the firm earned $2.55 EPS. The company's revenue was down 1.6% on a year-over-year basis. Sell-side analysts forecast 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. Investors of record on Tuesday, December 31st were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works's dividend payout ratio is currently 51.90%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on ITW shares. Truist Financial raised their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Wells Fargo & Company dropped their price target on Illinois Tool Works from $260.00 to $250.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 7th. StockNews.com cut Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Tuesday. Citigroup cut their price target on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a research note on Monday. Finally, Robert W. Baird increased their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Illinois Tool Works has a consensus rating of "Hold" and a consensus price target of $270.11.
Check Out Our Latest Analysis on Illinois Tool Works
About Illinois Tool Works
(
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.
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