Boston Financial Mangement LLC Sells 125 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Boston Financial Mangement LLC trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,670 shares of the industrial products company’s stock after selling 125 shares during the period. Boston Financial Mangement LLC’s holdings in Illinois Tool Works were worth $2,705,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nikulski Financial Inc. lifted its position 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 valued at $290,000 after acquiring an additional 39 shares in the last quarter. Baron Wealth Management LLC raised its stake in Illinois Tool Works by 4.5% during the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after purchasing an additional 39 shares during the period. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in Illinois Tool Works by 2.5% in 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 in the last quarter. Sigma Planning Corp boosted its stake in Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after purchasing an additional 41 shares during the period. Finally, Harbour Investments Inc. grew its holdings in Illinois Tool Works by 1.1% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ITW shares. JPMorgan Chase & Co. lowered their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Truist Financial boosted their price target 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. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research report on Wednesday. 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, October 31st. Finally, StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $269.30.

Illinois Tool Works Price Performance

NYSE:ITW opened at $264.04 on Thursday. The firm has a market capitalization of $77.97 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 4.42 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The business has a 50 day simple moving average of $257.39 and a 200-day simple moving average of $258.07. 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 issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities analysts forecast that Illinois Tool Works Inc. will post 10.41 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

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.