Aspen Investment Management Inc Has $1.57 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Aspen Investment Management Inc lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,191 shares of the industrial products company’s stock after selling 45 shares during the quarter. Aspen Investment Management Inc’s holdings in Illinois Tool Works were worth $1,570,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ITW. Allspring Global Investments Holdings LLC lifted its holdings in shares of Illinois Tool Works by 66.6% in the third 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. Foundations Investment Advisors LLC raised its position in 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 buying an additional 105 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Illinois Tool Works by 6.2% during 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 acquiring an additional 367 shares in the last quarter. Stanley Laman Group Ltd. purchased a new position in Illinois Tool Works during the 3rd quarter worth $233,000. Finally, Private Advisor Group LLC grew its stake in shares of Illinois Tool Works by 3.5% in the 3rd quarter. Private Advisor Group LLC now owns 44,762 shares of the industrial products company’s stock worth $11,731,000 after acquiring an additional 1,513 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.5 %

Shares of NYSE ITW opened at $265.42 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The stock has a market capitalization of $77.90 billion, a PE ratio of 22.65, a P/E/G ratio of 4.49 and a beta of 1.11. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The business’s fifty day moving average price is $257.23 and its 200-day moving average price is $258.12.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS 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%. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.41 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.26%. Illinois Tool Works’s dividend payout ratio is 51.19%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Stifel Nicolaus dropped their target price 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. JPMorgan Chase & Co. reduced their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Robert W. Baird lifted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays reduced their price objective 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $269.30.

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.