Kathmere Capital Management LLC Purchases 777 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Kathmere Capital Management LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,133 shares of the industrial products company’s stock after acquiring an additional 777 shares during the period. Kathmere Capital Management LLC’s holdings in Illinois Tool Works were worth $1,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Federated Hermes Inc. raised its position in shares of Illinois Tool Works by 25.8% in the second quarter. Federated Hermes Inc. now owns 12,753 shares of the industrial products company’s stock worth $3,022,000 after buying an additional 2,617 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Illinois Tool Works by 5.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,362 shares of the industrial products company’s stock valued at $1,271,000 after acquiring an additional 287 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Illinois Tool Works by 9.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock valued at $361,998,000 after purchasing an additional 133,853 shares during the last quarter. Quantbot Technologies LP lifted its position in Illinois Tool Works by 83.8% in the 2nd quarter. Quantbot Technologies LP now owns 16,888 shares of the industrial products company’s stock worth $4,002,000 after buying an additional 7,698 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in Illinois Tool Works by 12.9% in the second quarter. Citizens Financial Group Inc. RI now owns 3,518 shares of the industrial products company’s stock worth $834,000 after buying an additional 402 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ITW. Wells Fargo & Company cut their price objective on shares of 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. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price target for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Barclays decreased their price objective on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird increased their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Truist Financial lifted their price target on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $270.11.

Illinois Tool Works Trading Up 1.2 %

Illinois Tool Works stock opened at $252.77 on Wednesday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The business’s fifty day simple moving average is $265.34 and its two-hundred day simple moving average is $255.30. The company has a market capitalization of $74.64 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 4.22 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. The company 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 firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.55 earnings per share. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

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.