Lyell Wealth Management LP Has $254,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Lyell Wealth Management LP grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,002 shares of the industrial products company’s stock after purchasing an additional 47 shares during the period. Lyell Wealth Management LP’s holdings in Illinois Tool Works were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth approximately $28,000. 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 worth $30,000 after buying an additional 106 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in Illinois Tool Works during the 3rd quarter worth approximately $32,000. Ulland Investment Advisors LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works during the 3rd quarter worth approximately $35,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ITW has been the topic of several recent research reports. Barclays cut their target price on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Jefferies Financial Group lifted their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Truist Financial boosted their price target 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. Stifel Nicolaus dropped their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and an average target price of $269.30.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $264.04 on Thursday. The company has a fifty day moving average of $257.39 and a 200-day moving average of $258.07. The firm has a market capitalization of $77.97 billion, a P/E ratio of 22.53, a P/E/G ratio of 4.42 and a beta of 1.11. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.41 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

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.