Free Trial

International Assets Investment Management LLC Decreases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Illinois Tool Works logo with Industrial Products background

International Assets Investment Management LLC decreased its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 99.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,448 shares of the industrial products company's stock after selling 321,979 shares during the quarter. International Assets Investment Management LLC's holdings in Illinois Tool Works were worth $362,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Range Financial Group LLC raised its position in Illinois Tool Works by 168.3% during the 4th quarter. Range Financial Group LLC now owns 4,288 shares of the industrial products company's stock valued at $1,087,000 after purchasing an additional 2,690 shares during the last quarter. Diversified Trust Co raised its holdings in shares of Illinois Tool Works by 8.4% during the fourth quarter. Diversified Trust Co now owns 1,534 shares of the industrial products company's stock valued at $389,000 after acquiring an additional 119 shares in the last quarter. CWA Asset Management Group LLC lifted its stake in Illinois Tool Works by 2.6% in the fourth quarter. CWA Asset Management Group LLC now owns 10,467 shares of the industrial products company's stock worth $2,654,000 after acquiring an additional 270 shares during the period. Pensionfund Sabic boosted its holdings in Illinois Tool Works by 37.0% in the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company's stock valued at $1,876,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Illinois Tool Works by 3.2% during the 4th quarter. Nordea Investment Management AB now owns 39,382 shares of the industrial products company's stock valued at $10,017,000 after purchasing an additional 1,216 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded down $2.60 during mid-day trading on Friday, hitting $245.01. 1,152,599 shares of the company's stock traded hands, compared to its average volume of 887,583. The company has a market capitalization of $72.35 billion, a P/E ratio of 21.19, a PEG ratio of 4.22 and a beta of 1.11. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. 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 company's 50-day moving average is $265.91 and its two-hundred day moving average is $255.10.

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 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.55 EPS. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders 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 2.45%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.90%.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of research reports. Truist Financial lifted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Jefferies Financial Group upped their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Wells Fargo & Company lowered their target price on Illinois Tool Works from $260.00 to $250.00 and set an "underweight" rating for the company in a research note on Tuesday, January 7th. Evercore ISI lowered Illinois Tool Works from an "in-line" rating to an "underperform" rating and lifted their price target for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, StockNews.com upgraded Illinois Tool Works from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Illinois Tool Works currently has a consensus rating of "Hold" and an average price target of $271.67.

Read Our Latest Stock Analysis 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.

Further Reading

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

Should You Invest $1,000 in Illinois Tool Works Right Now?

Before you consider Illinois Tool Works, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Illinois Tool Works wasn't on the list.

While Illinois Tool Works currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Unlock the Potential in Options Trading Cover

Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Why the Latest Jobs Data Has Wall Street Nervous
7 Large-Cap Stocks Headed for Strong, Steady Gains in 2025
3 Stocks Insiders Are Selling, But Analysts Still Love

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines