Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the fourth quarter, HoldingsChannel reports. The fund owned 137,810 shares of the industrial products company’s stock after acquiring an additional 1,080 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Illinois Tool Works were worth $36,115,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ITW. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works during the second quarter worth about $30,000. True Wealth Design LLC grew its position in Illinois Tool Works by 1,060.0% during the third 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 position in Illinois Tool Works during the third quarter worth about $32,000. Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works during the third quarter worth about $35,000. Finally, Meeder Asset Management Inc. grew its position in Illinois Tool Works by 261.4% during the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after buying an additional 115 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

Shares of ITW opened at $245.01 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The company has a market capitalization of $72.35 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 4.22 and a beta of 1.11. The company’s 50 day simple moving average is $265.91 and its 200 day simple moving average is $254.87. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.55 earnings per share. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s payout ratio is 51.90%.

Analyst Ratings Changes

Several research analysts have weighed in on ITW shares. Barclays lowered their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Truist Financial upped their target price 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. Citigroup upped their target price on shares of Illinois Tool Works from $266.00 to $279.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Jefferies Financial Group upped 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. Finally, StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $271.67.

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.