Brady Family Wealth LLC Lowers Stake in Illinois Tool Works Inc. (NYSE:ITW)

Brady Family Wealth LLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,468 shares of the industrial products company’s stock after selling 258 shares during the quarter. Illinois Tool Works comprises about 1.4% of Brady Family Wealth LLC’s holdings, making the stock its 27th biggest position. Brady Family Wealth LLC’s holdings in Illinois Tool Works were worth $4,429,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Pensionfund Sabic raised its stake in shares of Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after buying an additional 2,000 shares during the period. Franklin Resources Inc. increased its holdings in Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after acquiring an additional 398,676 shares in the last quarter. Clark & Stuart Inc acquired a new position in Illinois Tool Works during the fourth quarter worth $1,729,000. Wolverine Asset Management LLC purchased a new position in Illinois Tool Works during the third quarter valued at $1,179,000. Finally, Daiwa Securities Group Inc. grew its position in shares of Illinois Tool Works by 11.8% in the third quarter. Daiwa Securities Group Inc. now owns 36,938 shares of the industrial products company’s stock valued at $9,680,000 after purchasing an additional 3,903 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Truist Financial increased their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus lifted their price target on Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Citigroup reduced their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday. Finally, 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 note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $270.11.

Illinois Tool Works Stock Up 0.4 %

NYSE ITW opened at $253.99 on Thursday. The business’s fifty day simple moving average is $265.34 and its 200-day simple moving average is $255.30. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The firm has a market cap of $75.00 billion, a PE ratio of 21.97, a P/E/G ratio of 3.55 and a beta of 1.11. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The company 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%. Illinois Tool Works’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.55 earnings per share. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.36%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

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.