MOKAN Wealth Management Inc. Acquires Shares of 4,323 Illinois Tool Works Inc. (NYSE:ITW)

MOKAN Wealth Management Inc. purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,323 shares of the industrial products company's stock, valued at approximately $1,096,000.

Other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. raised its position in Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock worth $358,321,000 after purchasing an additional 398,676 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Illinois Tool Works by 26,088.4% in the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company's stock worth $847,610,000 after buying an additional 322,192 shares during the period. National Bank of Canada FI lifted its stake in shares of Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company's stock valued at $106,352,000 after acquiring an additional 308,935 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Illinois Tool Works by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company's stock valued at $1,645,972,000 after acquiring an additional 167,422 shares during the period. Finally, Benjamin Edwards Inc. grew its position in Illinois Tool Works by 787.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company's stock worth $48,945,000 after acquiring an additional 165,607 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of analyst reports. Stifel Nicolaus dropped their price objective on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a research note on Thursday, February 6th. Truist Financial raised their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. StockNews.com downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. cut their target price on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, Robert W. Baird upped their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $269.30.

Illinois Tool Works Stock Up 0.5 %

NYSE:ITW traded up $1.31 during mid-day trading on Wednesday, hitting $263.56. 419,568 shares of the company's stock were exchanged, compared to its average volume of 956,194. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The business has a fifty day moving average price of $257.57 and a 200 day moving average price of $258.02. The company has a market cap of $77.83 billion, a PE ratio of 22.48, a P/E/G ratio of 4.42 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts' consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities analysts predict that Illinois Tool Works Inc. will post 10.41 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.28%. Illinois Tool Works's dividend payout ratio is 51.19%.

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.