Flywheel Private Wealth LLC Buys New Shares in Illinois Tool Works Inc. (NYSE:ITW)

Flywheel Private Wealth LLC bought a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 1,036 shares of the industrial products company's stock, valued at approximately $263,000.

Other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in Illinois Tool Works by 41.0% in the 3rd 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. International Assets Investment Management LLC boosted its holdings in shares of Illinois Tool Works by 26,088.4% during the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company's stock worth $847,610,000 after purchasing an additional 322,192 shares during the period. National Bank of Canada FI increased its holdings in Illinois Tool Works by 318.9% during the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company's stock valued at $106,352,000 after purchasing an additional 308,935 shares during the period. AXA S.A. increased its holdings in Illinois Tool Works by 242.3% during the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company's stock valued at $80,888,000 after purchasing an additional 241,618 shares during the period. Finally, Geode Capital Management LLC raised its position in Illinois Tool Works by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company's stock valued at $1,645,972,000 after purchasing an additional 167,422 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ITW has been the topic of several research analyst reports. Wells Fargo & Company reduced their target price 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. Jefferies Financial Group boosted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Robert W. Baird upped their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. StockNews.com lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, Truist Financial increased their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $270.11.

Illinois Tool Works Trading Up 0.4 %

Shares of ITW stock opened at $253.99 on Thursday. The stock has a market capitalization of $75.00 billion, a P/E ratio of 21.97, a P/E/G ratio of 3.55 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The firm's 50 day moving average is $265.34 and its 200 day moving average is $255.30.

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 (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion for the quarter, compared to analysts' expectations of $4.02 billion. During the same period last year, the firm posted $2.55 earnings per share. The business's revenue for the quarter was down 1.6% on a year-over-year basis. Research analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.36%. Illinois Tool Works's dividend payout ratio is currently 51.90%.

About Illinois Tool Works

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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