Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,931 shares of the industrial products company’s stock after acquiring an additional 105 shares during the period. Alpha Cubed Investments LLC’s holdings in Illinois Tool Works were worth $490,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ITW. AE Wealth Management LLC grew its stake in shares of Illinois Tool Works by 32.8% in the second quarter. AE Wealth Management LLC now owns 3,490 shares of the industrial products company’s stock valued at $827,000 after buying an additional 862 shares in the last quarter. Pacer Advisors Inc. grew its position in Illinois Tool Works by 9.5% in the second quarter. Pacer Advisors Inc. now owns 35,325 shares of the industrial products company’s stock valued at $8,371,000 after acquiring an additional 3,071 shares in the last quarter. Sei Investments Co. lifted its position in shares of Illinois Tool Works by 21.3% during the second quarter. Sei Investments Co. now owns 71,084 shares of the industrial products company’s stock worth $16,843,000 after purchasing an additional 12,496 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Illinois Tool Works by 71.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 34,889 shares of the industrial products company’s stock valued at $8,267,000 after purchasing an additional 14,564 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its holdings in Illinois Tool Works by 0.6% in the 2nd quarter. Epoch Investment Partners Inc. now owns 20,445 shares of the industrial products company’s stock worth $4,845,000 after buying an additional 124 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $261.31 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The business has a 50 day moving average of $263.91 and a two-hundred day moving average of $255.87. The company has a market cap of $77.17 billion, a P/E ratio of 22.60, a PEG ratio of 3.57 and a beta of 1.11. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the firm posted $2.55 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.30%. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ITW. Barclays dropped their target price on 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. Truist Financial upped their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company dropped their price target 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 raised their price objective for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, Jefferies Financial Group upped their target price 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. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.