Measured Wealth Private Client Group LLC Sells 119 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Measured Wealth Private Client Group LLC trimmed its stake in Illinois Tool Works Inc. (NYSE:ITW) by 10.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 991 shares of the industrial products company’s stock after selling 119 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Illinois Tool Works were worth $260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ITW. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works during the second quarter valued at approximately $30,000. Fairscale Capital LLC purchased a new position in shares of Illinois Tool Works during the second quarter worth approximately $30,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works during the 3rd quarter valued at $35,000. Meeder Asset Management Inc. raised its holdings in shares of Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 115 shares in the last quarter. Finally, Valued Wealth Advisors LLC lifted its stake in Illinois Tool Works by 2,162.5% in the second quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 173 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 3.2 %

Shares of ITW stock opened at $264.33 on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. Illinois Tool Works Inc. has a twelve month low of $221.82 and a twelve month high of $271.15. The company’s 50-day moving average price is $254.96 and its 200-day moving average price is $247.27. The stock has a market cap of $78.48 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.55 EPS. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.27%. Illinois Tool Works’s payout ratio is currently 58.82%.

Wall Street Analysts Forecast Growth

ITW has been the topic of several analyst reports. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Truist Financial increased their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Three equities research 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 an average rating of “Hold” and a consensus price target of $254.90.

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.