Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Occidental Asset Management LLC

Occidental Asset Management LLC grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,016 shares of the industrial products company's stock after buying an additional 1,257 shares during the quarter. Occidental Asset Management LLC's holdings in Illinois Tool Works were worth $3,554,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ITW. True Wealth Design LLC raised its position in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 106 shares during the period. Fairscale Capital LLC purchased a new stake in Illinois Tool Works during the 2nd quarter valued at $30,000. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works in the third quarter worth $32,000. Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works during the third quarter worth $35,000. Finally, Financial Management Professionals Inc. increased its position in Illinois Tool Works by 28.0% during the third quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company's stock valued at $56,000 after acquiring an additional 47 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Up 0.3 %

Shares of ITW stock traded up $0.76 during mid-day trading on Friday, hitting $256.69. 508,182 shares of the stock traded hands, compared to its average volume of 852,657. 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 stock has a market cap of $75.80 billion, a P/E ratio of 22.21, a P/E/G ratio of 3.55 and a beta of 1.11. The stock's fifty day moving average is $264.91 and its two-hundred day moving average is $255.29. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13.

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 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the business posted $2.55 EPS. The business's revenue for the quarter was down 1.6% compared to the same quarter last year. Equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works's payout ratio is currently 51.90%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Tuesday. Barclays dropped their price objective on Illinois Tool Works from $270.00 to $265.00 and set an "equal weight" rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company lowered their target price on shares of 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. 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 research note on Thursday, December 19th. Finally, Robert W. Baird boosted their price objective on shares of 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 equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works has a consensus rating of "Hold" and a consensus target price of $270.11.

Illinois Tool Works Company Profile

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.