Gateway Investment Advisers LLC Decreases Position in Illinois Tool Works Inc. (NYSE:ITW)

Gateway Investment Advisers LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 31.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,318 shares of the industrial products company's stock after selling 2,404 shares during the quarter. Gateway Investment Advisers LLC's holdings in Illinois Tool Works were worth $1,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV boosted its stake in shares of Illinois Tool Works by 1.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 30,269 shares of the industrial products company's stock worth $7,172,000 after acquiring an additional 468 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Illinois Tool Works by 27.5% in the second quarter. Intech Investment Management LLC now owns 26,522 shares of the industrial products company's stock valued at $6,285,000 after buying an additional 5,716 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Illinois Tool Works by 8.2% during the 2nd quarter. Brighton Jones LLC now owns 4,845 shares of the industrial products company's stock worth $1,148,000 after buying an additional 368 shares during the last quarter. Ieq Capital LLC boosted its position in shares of Illinois Tool Works by 3.1% in the 2nd quarter. Ieq Capital LLC now owns 21,140 shares of the industrial products company's stock worth $5,009,000 after buying an additional 638 shares in the last quarter. Finally, Callan Capital LLC grew its stake in Illinois Tool Works by 8.9% in the 2nd quarter. Callan Capital LLC now owns 2,294 shares of the industrial products company's stock valued at $544,000 after acquiring an additional 187 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Trading Up 0.2 %

ITW stock traded up $0.57 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. The stock has a market capitalization of $75.74 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The business's fifty day moving average is $264.26 and its two-hundred day moving average is $255.59.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business's quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the company posted $2.55 EPS. As a group, research analysts forecast 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. 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 (DPR) is presently 51.90%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ITW. Barclays dropped their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 8th. StockNews.com downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Robert W. Baird lifted their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Truist Financial upped their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Finally, Jefferies Financial Group lifted their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Two 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 data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of "Hold" and a consensus price target 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.