InvesTrust purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 24,022 shares of the industrial products company's stock, valued at approximately $6,102,000. Illinois Tool Works makes up 1.7% of InvesTrust's investment portfolio, making the stock its 29th biggest position.
Several other institutional investors also recently bought and sold shares of the business. True Wealth Design LLC increased its stake in Illinois Tool Works by 1,060.0% during 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 worth approximately $30,000. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works in the 3rd quarter valued at $32,000. Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works in the 3rd quarter valued at $35,000. Finally, Meeder Asset Management Inc. boosted its stake in Illinois Tool Works by 261.4% during the 2nd 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 during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.
Illinois Tool Works Trading Down 0.4 %
Shares of NYSE:ITW traded down $0.93 during mid-day trading on Wednesday, reaching $247.66. 1,080,596 shares of the company were exchanged, compared to its average volume of 834,319. The firm has a market cap of $73.13 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 4.22 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The firm's 50-day simple moving average is $266.87 and its 200 day simple moving average is $254.95.
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 (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company's quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.55 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.
Illinois Tool Works Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.42%. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.90%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. Citigroup increased their target price on shares of Illinois Tool Works from $266.00 to $279.00 and gave the company a "neutral" rating in a research report on Monday, December 9th. Wells Fargo & Company decreased their target price on shares of Illinois Tool Works from $260.00 to $250.00 and set an "underweight" rating on the stock in a research note on Tuesday. Truist Financial upped their price target 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. Evercore ISI downgraded Illinois Tool Works from an "in-line" rating to an "underperform" rating and lifted their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Barclays dropped their target price on Illinois Tool Works from $270.00 to $265.00 and set an "equal weight" rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $268.00.
Check Out Our Latest Stock Analysis on ITW
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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