Great Lakes Retirement Inc. Buys New Shares in Illinois Tool Works Inc. (NYSE:ITW)

Great Lakes Retirement Inc. bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,406 shares of the industrial products company’s stock, valued at approximately $1,147,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Greenleaf Trust lifted its stake in shares of Illinois Tool Works by 1.1% during the 4th quarter. Greenleaf Trust now owns 4,916 shares of the industrial products company’s stock worth $883,000 after buying an additional 54 shares during the last quarter. Fiera Capital Corp raised its position in shares of Illinois Tool Works by 4.6% in the 4th quarter. Fiera Capital Corp now owns 1,342 shares of the industrial products company’s stock valued at $241,000 after buying an additional 59 shares in the last quarter. Sage Capital Advisors llc raised its position in shares of Illinois Tool Works by 3.0% in the 4th quarter. Sage Capital Advisors llc now owns 2,195 shares of the industrial products company’s stock valued at $394,000 after buying an additional 63 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Illinois Tool Works by 6.7% during the 4th quarter. Assetmark Inc. now owns 1,131 shares of the industrial products company’s stock valued at $203,000 after purchasing an additional 71 shares during the last quarter. Finally, BSW Wealth Partners grew its holdings in shares of Illinois Tool Works by 4.5% during the 4th quarter. BSW Wealth Partners now owns 1,668 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 72 shares during the last quarter. 80.01% of the stock is owned by institutional investors and hedge funds.

ITW traded up $4.58 during trading on Wednesday, reaching $142.28. 58,318 shares of the company’s stock were exchanged, compared to its average volume of 2,611,878. Illinois Tool Works Inc. has a one year low of $115.94 and a one year high of $190.85. The company has a current ratio of 2.90, a quick ratio of 2.36 and a debt-to-equity ratio of 2.56. The stock has a market capitalization of $37.65 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 2.02 and a beta of 1.16. The firm has a fifty day moving average price of $169.48 and a two-hundred day moving average price of $169.26.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, January 31st. The industrial products company reported $1.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.03. Illinois Tool Works had a net margin of 17.87% and a return on equity of 81.83%. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the firm posted $1.83 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Sell-side analysts expect that Illinois Tool Works Inc. will post 7.71 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Monday, March 30th. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

ITW has been the topic of several research reports. Wells Fargo & Co decreased their price target on shares of Illinois Tool Works from $200.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. BMO Capital Markets reaffirmed a “market perform” rating and set a $165.00 price target on shares of Illinois Tool Works in a report on Tuesday, February 4th. Deutsche Bank lifted their price target on shares of Illinois Tool Works from $142.00 to $164.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Cfra lifted their price target on shares of Illinois Tool Works from $146.00 to $157.00 and gave the company a “sell” rating in a report on Friday, January 31st. Finally, UBS Group lifted their price target on shares of Illinois Tool Works from $168.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $157.71.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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

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