BXM Wealth LLC acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,673 shares of the industrial products company's stock, valued at approximately $678,000.
Other large investors have also bought and sold shares of the company. Vontobel Holding Ltd. boosted its position in shares of Illinois Tool Works by 3.2% in the 3rd quarter. Vontobel Holding Ltd. now owns 35,115 shares of the industrial products company's stock worth $9,203,000 after purchasing an additional 1,094 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of Illinois Tool Works by 24.6% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 5,058 shares of the industrial products company's stock worth $1,326,000 after purchasing an additional 998 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of Illinois Tool Works by 93.1% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,440 shares of the industrial products company's stock worth $902,000 after purchasing an additional 1,659 shares in the last quarter. Good Life Advisors LLC boosted its position in shares of Illinois Tool Works by 129.8% in the 3rd quarter. Good Life Advisors LLC now owns 4,258 shares of the industrial products company's stock worth $1,116,000 after purchasing an additional 2,405 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its position in shares of Illinois Tool Works by 2.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,815 shares of the industrial products company's stock worth $1,786,000 after purchasing an additional 141 shares in the last quarter. 79.77% of the stock is owned by institutional investors.
Illinois Tool Works Stock Performance
Shares of NYSE ITW traded up $1.79 during midday trading on Wednesday, hitting $264.04. 818,307 shares of the stock traded hands, compared to its average volume of 969,528. The firm has a 50-day moving average of $257.57 and a two-hundred day moving average of $258.02. The firm has a market capitalization of $77.97 billion, a P/E ratio of 22.53, a PEG ratio of 4.42 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13.
Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.41 EPS for the current fiscal year.
Illinois Tool Works Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.27%. Illinois Tool Works's dividend payout ratio (DPR) is 51.19%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on ITW. StockNews.com cut Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Stifel Nicolaus lowered their price objective on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company lowered their price objective on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research report on Thursday, February 6th. Truist Financial upped their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Finally, Jefferies Financial Group upped their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $269.30.
Check Out Our Latest Research Report on ITW
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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