Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,064 shares of the industrial products company’s stock after selling 195 shares during the period. Illinois Tool Works makes up 1.6% of Sky Investment Group LLC’s investment portfolio, making the stock its 19th largest position. Sky Investment Group LLC’s holdings in Illinois Tool Works were worth $8,891,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at $30,000. True Wealth Design LLC increased its holdings in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Illinois Tool Works in the 3rd quarter worth $32,000. Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works in the third quarter valued at $35,000. Finally, Financial Management Professionals Inc. increased its stake in Illinois Tool Works by 28.0% during the third quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 47 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on ITW. Barclays reduced their price objective on 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. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Truist Financial increased their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group upped their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $270.11.

Illinois Tool Works Stock Up 0.2 %

Shares of NYSE ITW opened at $256.50 on Tuesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The stock’s 50-day simple moving average is $264.26 and its 200-day simple moving average is $255.73. The firm 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.

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 for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.55 EPS. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed 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 was Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Illinois Tool Works Company 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.