Martel Wealth Advisors Inc Purchases New Stake in Illinois Tool Works Inc. (NYSE:ITW)

Martel Wealth Advisors Inc purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 3,000 shares of the industrial products company's stock, valued at approximately $761,000.

Several other institutional investors have also modified their holdings of the company. Ulland Investment Advisors LLC purchased a new position in Illinois Tool Works during the fourth quarter worth $33,000. Wealthquest Corp purchased a new stake in Illinois Tool Works during the 4th quarter worth about $260,000. Mitchell Mcleod Pugh & Williams Inc. raised its stake in Illinois Tool Works by 4.3% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,683 shares of the industrial products company's stock valued at $427,000 after purchasing an additional 69 shares during the last quarter. Guinness Atkinson Asset Management Inc lifted its holdings in Illinois Tool Works by 23.3% in the 4th quarter. Guinness Atkinson Asset Management Inc now owns 4,470 shares of the industrial products company's stock valued at $1,133,000 after purchasing an additional 845 shares in the last quarter. Finally, Guinness Asset Management LTD boosted its stake in shares of Illinois Tool Works by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 844,926 shares of the industrial products company's stock worth $214,265,000 after purchasing an additional 42,040 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Up 1.9 %

Shares of NYSE ITW traded up $4.93 on Tuesday, hitting $261.31. The company had a trading volume of 718,304 shares, compared to its average volume of 871,042. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a market capitalization of $77.17 billion, a P/E ratio of 22.60, a PEG ratio of 3.57 and a beta of 1.11. The business has a 50 day moving average of $263.91 and a two-hundred day moving average of $255.87.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued 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 company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. Illinois Tool Works's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $2.55 earnings per share. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a $1.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.30%. Illinois Tool Works's payout ratio is currently 51.90%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ITW. Wells Fargo & Company cut their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an "underweight" rating for the company in a research report on Tuesday, January 7th. Jefferies Financial Group increased their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $262.00 to $268.00 and gave the company a "hold" rating in a research report on Wednesday, December 11th. Truist Financial upped 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 report on Thursday, December 19th. Finally, Barclays decreased their price target on shares of Illinois Tool Works from $270.00 to $265.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of "Hold" and an average price target of $270.11.

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.