Measured Wealth Private Client Group LLC Has $260,000 Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Measured Wealth Private Client Group LLC decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 991 shares of the industrial products company’s stock after selling 119 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Illinois Tool Works were worth $260,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norden Group LLC increased its position in shares of Illinois Tool Works by 1,889.1% during the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after acquiring an additional 25,144 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Illinois Tool Works by 22.0% in the first quarter. First Trust Direct Indexing L.P. now owns 6,731 shares of the industrial products company’s stock worth $1,806,000 after buying an additional 1,213 shares in the last quarter. Willis Johnson & Associates Inc. purchased a new position in shares of Illinois Tool Works during the 1st quarter valued at $207,000. Maryland State Retirement & Pension System raised its position in shares of Illinois Tool Works by 1.5% in the first quarter. Maryland State Retirement & Pension System now owns 23,503 shares of the industrial products company’s stock worth $5,856,000 after buying an additional 336 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Illinois Tool Works by 6.9% during the first quarter. Van ECK Associates Corp now owns 48,005 shares of the industrial products company’s stock worth $12,881,000 after buying an additional 3,097 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on ITW shares. Truist Financial lifted their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird boosted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday. Jefferies Financial Group decreased their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $254.90.

Illinois Tool Works Stock Performance

Shares of ITW opened at $264.33 on Thursday. Illinois Tool Works Inc. has a 12 month low of $221.82 and a 12 month high of $271.15. The business’s fifty day simple moving average is $254.96 and its two-hundred day simple moving average is $247.27. The company has a market cap of $78.48 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 4.10 and a beta of 1.10. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17.

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. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the firm earned $2.55 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.27%. Illinois Tool Works’s payout ratio is currently 58.82%.

About Illinois Tool Works

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.