Brave Asset Management Inc. Cuts Position in Illinois Tool Works Inc. (NYSE:ITW)

Brave Asset Management Inc. reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 13.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,843 shares of the industrial products company’s stock after selling 278 shares during the quarter. Brave Asset Management Inc.’s holdings in Illinois Tool Works were worth $467,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Pensionfund Sabic boosted its holdings in shares of Illinois Tool Works by 37.0% in the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after buying an additional 2,000 shares in the last quarter. Franklin Resources Inc. boosted its stake in Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after acquiring an additional 398,676 shares in the last quarter. Clark & Stuart Inc purchased a new position in Illinois Tool Works in the fourth quarter worth $1,729,000. Wolverine Asset Management LLC acquired a new position in shares of Illinois Tool Works during the third quarter worth $1,179,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Illinois Tool Works by 11.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 36,938 shares of the industrial products company’s stock valued at $9,680,000 after purchasing an additional 3,903 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.4 %

NYSE ITW opened at $253.99 on Thursday. The company has a fifty day moving average of $265.34 and a 200 day moving average of $255.30. The company has a market capitalization of $75.00 billion, a PE ratio of 21.97, a P/E/G ratio of 3.55 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13.

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

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors 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 yield of 2.36%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ITW shares. Stifel Nicolaus boosted their target price on Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Robert W. Baird boosted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Truist Financial lifted 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. Jefferies Financial Group upped their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Barclays lowered their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $270.11.

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.