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Pensionfund Sabic Has $1.88 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Illinois Tool Works logo with Industrial Products background

Pensionfund Sabic boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 37.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,400 shares of the industrial products company's stock after purchasing an additional 2,000 shares during the quarter. Pensionfund Sabic's holdings in Illinois Tool Works were worth $1,876,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock worth $30,000 after buying an additional 106 shares in the last quarter. Fairscale Capital LLC purchased a new stake in shares of Illinois Tool Works during the second quarter valued at $30,000. Catalyst Capital Advisors LLC purchased a new position in shares of Illinois Tool Works in the third quarter worth approximately $32,000. Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works in the third quarter valued at $35,000. Finally, Meeder Asset Management Inc. lifted its position in shares of Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company's stock worth $38,000 after purchasing an additional 115 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ITW. StockNews.com raised shares of Illinois Tool Works from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Barclays upgraded Illinois Tool Works from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $230.00 to $270.00 in a report on Thursday, December 5th. Jefferies Financial Group lifted their price target 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. Evercore ISI lowered shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and raised their target price for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $268.50.

Check Out Our Latest Stock Report on Illinois Tool Works

Illinois Tool Works Price Performance

ITW stock traded down $1.98 during trading on Monday, hitting $250.31. 790,909 shares of the stock traded hands, compared to its average volume of 801,902. The stock has a market cap of $73.92 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 4.22 and a beta of 1.11. Illinois Tool Works Inc. has a one year low of $232.77 and a one year 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 company has a 50 day simple moving average of $267.14 and a 200 day simple moving average of $254.84.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the firm earned $2.55 earnings per share. The business's revenue was down 1.6% on a year-over-year basis. Equities analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.40%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.90%.

Illinois Tool Works Profile

(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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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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