Illinois Tool Works Inc. (NYSE:ITW) Stake Lessened by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,029 shares of the industrial products company’s stock after selling 949 shares during the period. Illinois Tool Works makes up 1.5% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 23rd biggest position. Arcadia Investment Management Corp MI’s holdings in Illinois Tool Works were worth $9,643,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. State Street Corp lifted its holdings in shares of Illinois Tool Works by 1.2% in the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after purchasing an additional 149,272 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after purchasing an additional 167,422 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Illinois Tool Works by 4.2% in the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after purchasing an additional 135,023 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Illinois Tool Works by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock worth $484,685,000 after acquiring an additional 32,656 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Illinois Tool Works by 1.0% during the third quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company’s stock worth $460,533,000 after acquiring an additional 17,139 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ITW shares. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a report on Wednesday. Jefferies Financial Group boosted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Barclays reduced their price objective on shares of 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. Finally, Citigroup decreased their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $269.30.

Illinois Tool Works Stock Up 0.5 %

NYSE ITW opened at $265.42 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The firm has a 50-day simple moving average of $257.23 and a 200 day simple moving average of $258.12. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The stock has a market cap of $77.90 billion, a PE ratio of 22.65, a PEG ratio of 4.52 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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, research analysts forecast that Illinois Tool Works Inc. will post 10.41 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm 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. This represents a $6.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is 51.19%.

About Illinois Tool Works

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.