Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 17.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,620 shares of the industrial products company’s stock after acquiring an additional 239 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Illinois Tool Works were worth $411,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Nikulski Financial Inc. boosted its stake in shares of Illinois Tool Works by 3.6% in the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after acquiring an additional 39 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in Illinois Tool Works by 2.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after purchasing an additional 40 shares during the last quarter. Sigma Planning Corp grew its holdings in shares of Illinois Tool Works by 0.9% during the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after buying an additional 41 shares in the last quarter. Harbour Investments Inc. raised its position in shares of Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after buying an additional 41 shares during the last quarter. Finally, Procyon Advisors LLC lifted its stake in shares of Illinois Tool Works by 2.7% in the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock worth $422,000 after buying an additional 43 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ITW. Truist Financial raised their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Robert W. Baird upped their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Barclays reduced their price target on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, six have issued 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, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $270.11.

Illinois Tool Works Price Performance

ITW opened at $253.99 on Thursday. The stock’s 50-day moving average price is $265.34 and its 200 day moving average price is $255.30. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a market cap of $75.00 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 3.55 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the business earned $2.55 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

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.