Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by HB Wealth Management LLC

HB Wealth Management LLC lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,201 shares of the industrial products company’s stock after purchasing an additional 339 shares during the period. HB Wealth Management LLC’s holdings in Illinois Tool Works were worth $5,122,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. True Wealth Design LLC grew its stake in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares in the last quarter. Fairscale Capital LLC acquired a new position in Illinois Tool Works during the 2nd quarter worth $30,000. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works during the 3rd quarter worth about $32,000. Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works in the 3rd quarter valued at about $35,000. Finally, Financial Management Professionals Inc. boosted 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 buying an additional 47 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 0.2 %

ITW opened at $256.50 on Friday. 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 business’s 50 day moving average is $264.26 and its two-hundred day moving average is $255.45. The firm has a market cap of $75.74 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating 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 business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the company posted $2.55 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, research analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current 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 given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup reduced their target price 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. Truist Financial lifted their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Jefferies Financial Group increased 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. Stifel Nicolaus lifted their price target on Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Finally, Barclays dropped their price objective on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price 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.