Flywheel Private Wealth LLC Buys New Shares in Illinois Tool Works Inc. (NYSE:ITW)

Flywheel Private Wealth LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,036 shares of the industrial products company’s stock, valued at approximately $263,000.

Several other institutional investors have also recently made changes to their positions in the stock. Federated Hermes Inc. boosted its stake in Illinois Tool Works by 25.8% in the 2nd quarter. Federated Hermes Inc. now owns 12,753 shares of the industrial products company’s stock worth $3,022,000 after purchasing an additional 2,617 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Illinois Tool Works by 5.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,362 shares of the industrial products company’s stock valued at $1,271,000 after buying an additional 287 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Illinois Tool Works by 12.9% in the second quarter. Citizens Financial Group Inc. RI now owns 3,518 shares of the industrial products company’s stock worth $834,000 after buying an additional 402 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Illinois Tool Works by 75.1% during the second quarter. Renaissance Technologies LLC now owns 258,000 shares of the industrial products company’s stock worth $61,136,000 after acquiring an additional 110,673 shares during the last quarter. Finally, Moors & Cabot Inc. grew its stake in Illinois Tool Works by 4.3% during the second quarter. Moors & Cabot Inc. now owns 7,016 shares of the industrial products company’s stock valued at $1,663,000 after acquiring an additional 290 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.4 %

NYSE ITW opened at $253.99 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The firm has a market capitalization of $75.00 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 3.55 and a beta of 1.11. The company has a fifty day moving average of $265.34 and a two-hundred day moving average of $255.30.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the company earned $2.55 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders 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 dividend yield of 2.36%. Illinois Tool Works’s payout ratio is 51.90%.

Analyst Upgrades and Downgrades

Several research analysts have commented on ITW shares. Citigroup dropped their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday. Truist Financial increased their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Robert W. Baird upped their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays cut 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $270.11.

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.