Gateway Investment Advisers LLC lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 31.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,318 shares of the industrial products company’s stock after selling 2,404 shares during the period. Gateway Investment Advisers LLC’s holdings in Illinois Tool Works were worth $1,348,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fairscale Capital LLC bought a new stake in shares of Illinois Tool Works during the 2nd quarter valued at about $30,000. True Wealth Design LLC boosted its position 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 valued at $30,000 after acquiring an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter worth approximately $32,000. Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works in the 3rd quarter worth approximately $35,000. Finally, Financial Management Professionals Inc. lifted its stake in shares of Illinois Tool Works by 28.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 47 shares during the period. Institutional investors own 79.77% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on ITW shares. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Jefferies Financial Group lifted their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Citigroup cut their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Barclays lowered their target price on shares of 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. Finally, Truist Financial upped their price target on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $270.11.
View Our Latest Stock Report on ITW
Illinois Tool Works Trading Up 0.2 %
Illinois Tool Works stock opened at $256.50 on Friday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The business’s fifty day moving average is $264.26 and its 200 day moving average is $255.45. The stock has a market capitalization of $75.74 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 3.55 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 (NYSE:ITW – Get Free Report) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.55 EPS. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.
Illinois Tool Works Announces Dividend
The company also recently announced 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 of this dividend was Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.34%. Illinois Tool Works’s payout ratio is 51.90%.
Illinois Tool Works Company 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.
See Also
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