Wealthquest Corp Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

Wealthquest Corp acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,026 shares of the industrial products company's stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Nikulski Financial Inc. boosted its position in shares of Illinois Tool Works by 3.6% in the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company's stock worth $290,000 after buying an additional 39 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its position in shares of Illinois Tool Works by 2.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company's stock valued at $423,000 after purchasing an additional 40 shares during the last quarter. Sigma Planning Corp increased its stake in shares of Illinois Tool Works by 0.9% during the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company's stock worth $1,216,000 after purchasing an additional 41 shares in the last quarter. Harbour Investments Inc. raised its position in shares of Illinois Tool Works by 1.1% during the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company's stock worth $957,000 after purchasing an additional 41 shares during the last quarter. Finally, Procyon Advisors LLC lifted its stake in Illinois Tool Works by 2.7% in the 3rd quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company's stock valued at $422,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Trading Up 1.9 %

NYSE:ITW traded up $4.93 on Tuesday, hitting $261.31. 718,304 shares of the stock were exchanged, compared to its average volume of 871,020. The stock has a fifty day moving average of $263.91 and a 200-day moving average of $255.87. The stock has a market cap of $77.17 billion, a PE ratio of 22.60, a PEG ratio of 3.57 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results 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 net margin of 21.66% and a return on equity of 97.06%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the firm posted $2.55 earnings per share. Illinois Tool Works's revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ITW. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $260.00 to $250.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a "hold" rating in a report on Wednesday, December 11th. Jefferies Financial Group upped their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Evercore ISI cut shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and lifted their target price for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, StockNews.com cut Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target 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.