Integrated Advisors Network LLC Raises Position in Illinois Tool Works Inc. (NYSE:ITW)

Integrated Advisors Network LLC raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,167 shares of the industrial products company’s stock after purchasing an additional 256 shares during the quarter. Integrated Advisors Network LLC’s holdings in Illinois Tool Works were worth $1,353,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth approximately $26,000. Frazier Financial Advisors LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $26,000. Security National Bank purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $28,000. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $28,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $29,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ITW has been the subject of a number of research analyst reports. Barclays decreased their price target on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a research report on Tuesday, June 4th. Wells Fargo & Company decreased their price target on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. Citigroup increased their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Truist Financial increased their price objective on Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $256.44.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock traded down $5.43 during trading hours on Friday, reaching $235.17. The company had a trading volume of 1,019,517 shares, compared to its average volume of 970,525. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The business has a fifty day simple moving average of $246.54 and a 200 day simple moving average of $254.32. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94. The firm has a market cap of $70.17 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 3.49 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same period last year, the company earned $2.33 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.22 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s payout ratio is currently 55.23%.

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.