863 Shares in Illinois Tool Works Inc. (NYSE:ITW) Bought by Websterrogers Financial Advisors LLC

Websterrogers Financial Advisors LLC bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, Holdings Channel reports. The institutional investor bought 863 shares of the industrial products company’s stock, valued at approximately $219,000.

A number of other hedge funds have also recently made changes to their positions in ITW. State Street Corp grew its stake in shares of Illinois Tool Works by 1.2% in the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after purchasing an additional 149,272 shares during the last quarter. Geode Capital Management LLC lifted 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 worth $1,645,972,000 after buying an additional 167,422 shares during the period. Fisher Asset Management LLC grew its position in shares of Illinois Tool Works by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after buying an additional 135,023 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Illinois Tool Works by 2.4% in the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after buying an additional 62,645 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Illinois Tool Works by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock worth $484,685,000 after acquiring an additional 32,656 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $253.99 on Thursday. The business has a 50-day simple moving average of $265.34 and a 200 day simple moving average of $255.30. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. 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 firm has a market capitalization of $75.00 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 4.22 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released 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 the consensus estimate of $4.02 billion. During the same quarter in the previous year, the company posted $2.55 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Jefferies Financial Group upped their target price on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Robert W. Baird upped 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 note on Thursday, October 31st. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Finally, Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $270.11.

Illinois Tool Works 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.