Concurrent Investment Advisors LLC Boosts Stake in Illinois Tool Works Inc. (NYSE:ITW)

Concurrent Investment Advisors LLC raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,148 shares of the industrial products company’s stock after buying an additional 1,259 shares during the period. Concurrent Investment Advisors LLC’s holdings in Illinois Tool Works were worth $3,841,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at $28,000. True Wealth Design LLC lifted its position in shares of 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 purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works during the third quarter valued at $32,000. Ulland Investment Advisors LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth about $33,000. Finally, Hager Investment Management Services LLC purchased a new position in Illinois Tool Works in the 4th quarter worth about $37,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.5 %

NYSE ITW opened at $265.42 on Friday. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a 50 day moving average price of $257.23 and a 200 day moving average price of $258.12. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a market cap of $77.90 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 4.49 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping 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%. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.41 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company 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 annualized dividend and a yield of 2.26%. Illinois Tool Works’s payout ratio is presently 51.19%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ITW. Truist Financial boosted their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus lowered their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Citigroup reduced their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Evercore ISI lowered their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group lifted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Two equities research 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. According to data from MarketBeat, the stock presently 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.