Arkadios Wealth Advisors Has $5.38 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Arkadios Wealth Advisors lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,203 shares of the industrial products company’s stock after purchasing an additional 2,217 shares during the quarter. Arkadios Wealth Advisors’ holdings in Illinois Tool Works were worth $5,376,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ITW. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works in the second quarter valued at approximately $30,000. True Wealth Design LLC lifted its position in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works in the 3rd quarter worth $32,000. Northwest Investment Counselors LLC bought a new position in Illinois Tool Works during the 3rd quarter worth about $35,000. Finally, Financial Management Professionals Inc. raised its stake in shares of Illinois Tool Works by 28.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 47 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

ITW opened at $256.50 on Friday. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The stock has a market cap of $75.74 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 3.55 and a beta of 1.11. The business has a 50 day moving average of $264.57 and a 200-day moving average of $255.29. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion during 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%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the business posted $2.55 earnings per share. On average, equities research analysts expect 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 declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Jefferies Financial Group upped their price objective 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. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price target for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Citigroup cut their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $270.11.

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.