Bfsg LLC Has $1.22 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Bfsg LLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,792 shares of the industrial products company’s stock after selling 108 shares during the quarter. Bfsg LLC’s holdings in Illinois Tool Works were worth $1,215,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ITW. Allspring Global Investments Holdings LLC boosted its holdings in shares of Illinois Tool Works by 66.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 23,188 shares of the industrial products company’s stock valued at $6,077,000 after purchasing an additional 9,271 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at $35,000. Jade Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at $1,310,000. Foundations Investment Advisors LLC boosted its holdings in shares of Illinois Tool Works by 7.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,525 shares of the industrial products company’s stock valued at $400,000 after purchasing an additional 105 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Illinois Tool Works by 6.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,299 shares of the industrial products company’s stock valued at $1,651,000 after purchasing an additional 367 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ITW. Truist Financial increased their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Barclays dropped their price target on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Wells Fargo & Company dropped their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Finally, Robert W. Baird increased their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Stock Performance

Shares of ITW opened at $262.03 on Wednesday. The company has a market cap of $77.38 billion, a PE ratio of 22.36, a P/E/G ratio of 4.79 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The stock has a 50-day moving average of $257.57 and a 200-day moving average of $258.02.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, equities research analysts predict that Illinois Tool Works Inc. will post 10.38 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business 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 2.29%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

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.