Davis Capital Management Raises Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Davis Capital Management increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 198.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 746 shares of the industrial products company’s stock after purchasing an additional 496 shares during the quarter. Davis Capital Management’s holdings in Illinois Tool Works were worth $189,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth about $28,000. True Wealth Design LLC boosted its position in 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 in the last quarter. Catalyst Capital Advisors LLC purchased a new position in Illinois Tool Works during the third quarter worth approximately $32,000. Ulland Investment Advisors LLC purchased a new position in Illinois Tool Works during the fourth quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works during the third quarter worth approximately $35,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

ITW opened at $261.31 on Wednesday. The stock’s 50 day simple moving average is $263.91 and its 200 day simple moving average is $255.87. The stock has a market cap of $77.17 billion, a P/E ratio of 22.60, a P/E/G ratio of 3.57 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITWGet Free Report) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $2.55 EPS. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.90%.

Analysts Set New Price Targets

ITW has been the subject of several recent analyst reports. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Barclays cut their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company dropped their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $270.11.

View Our Latest Report on ITW

About Illinois Tool Works

(Free Report)

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.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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