Wealthquest Corp Invests $260,000 in Illinois Tool Works Inc. (NYSE:ITW)

Wealthquest Corp acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,026 shares of the industrial products company’s stock, valued at approximately $260,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Illinois Tool Works by 4.3% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,683 shares of the industrial products company’s stock valued at $427,000 after acquiring an additional 69 shares during the period. Guinness Atkinson Asset Management Inc increased its stake in Illinois Tool Works by 23.3% in the fourth quarter. Guinness Atkinson Asset Management Inc now owns 4,470 shares of the industrial products company’s stock valued at $1,133,000 after purchasing an additional 845 shares in the last quarter. Guinness Asset Management LTD raised its holdings in Illinois Tool Works by 5.2% in the fourth quarter. Guinness Asset Management LTD now owns 844,926 shares of the industrial products company’s stock worth $214,265,000 after purchasing an additional 42,040 shares during the period. UMB Bank n.a. boosted its position in shares of Illinois Tool Works by 93.0% during the fourth quarter. UMB Bank n.a. now owns 42,558 shares of the industrial products company’s stock worth $10,791,000 after purchasing an additional 20,502 shares in the last quarter. Finally, Strong Tower Advisory Services grew its holdings in shares of Illinois Tool Works by 9.3% in the 4th quarter. Strong Tower Advisory Services now owns 8,781 shares of the industrial products company’s stock valued at $2,227,000 after buying an additional 746 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ITW shares. Citigroup reduced their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Robert W. Baird increased their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price target for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Jefferies Financial Group increased their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, Barclays cut their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $270.11.

Illinois Tool Works Stock Performance

Shares of ITW opened at $256.50 on Tuesday. The company has a market cap 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 firm has a 50-day moving average of $264.26 and a 200-day moving average of $255.73. 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.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the business earned $2.55 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a dividend of $1.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

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.