Brady Martz Wealth Solutions LLC Makes New Investment in Illinois Tool Works Inc. (NYSE:ITW)

Brady Martz Wealth Solutions LLC acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 3,121 shares of the industrial products company's stock, valued at approximately $789,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ITW. State Street Corp lifted its holdings in shares of Illinois Tool Works by 1.2% during the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company's stock worth $3,277,127,000 after purchasing an additional 149,272 shares during the period. Geode Capital Management LLC lifted its stake in shares of Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company's stock worth $1,645,972,000 after acquiring an additional 167,422 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Illinois Tool Works by 4.2% in the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company's stock valued at $877,234,000 after acquiring an additional 135,023 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Illinois Tool Works by 2.4% during the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company's stock worth $640,425,000 after acquiring an additional 62,645 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Illinois Tool Works by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company's stock worth $484,685,000 after purchasing an additional 32,656 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ITW has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $262.00 to $268.00 and gave the company a "hold" rating in a report on Wednesday, December 11th. Truist Financial upped their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Barclays cut their price objective on Illinois Tool Works from $270.00 to $265.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 8th. Jefferies Financial Group upped their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Finally, StockNews.com downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $270.11.

Illinois Tool Works Price Performance

NYSE:ITW traded up $0.57 during mid-day trading on Monday, hitting $256.50. 844,760 shares of the company's stock traded hands, compared to its average volume of 768,759. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. 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. The firm's 50 day simple moving average is $264.26 and its 200 day simple moving average is $255.73. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analysts' expectations of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company's revenue was down 1.6% on a year-over-year basis. During the same period last year, the company posted $2.55 EPS. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works's dividend payout ratio is presently 51.90%.

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.