Premier Path Wealth Partners LLC Has $556,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Premier Path Wealth Partners LLC increased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,193 shares of the industrial products company’s stock after purchasing an additional 167 shares during the period. Premier Path Wealth Partners LLC’s holdings in Illinois Tool Works were worth $556,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITW. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works in the 2nd quarter worth approximately $30,000. True Wealth Design LLC raised its holdings in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works during the 3rd quarter worth about $32,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works during the 3rd quarter worth about $35,000. Finally, Financial Management Professionals Inc. increased its position in Illinois Tool Works by 28.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ITW shares. Wells Fargo & Company decreased their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Barclays lowered their target price on 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. Stifel Nicolaus upped their price target on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Citigroup dropped their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 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 report on Friday, December 6th. Two equities 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, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $270.11.

Illinois Tool Works Stock Up 0.2 %

Illinois Tool Works stock opened at $256.50 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The firm has a market capitalization of $75.74 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 3.55 and a beta of 1.11. The company’s 50 day simple moving average is $264.26 and its 200 day simple moving average is $255.45.

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

Illinois Tool Works Dividend Announcement

The business 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 2.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

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.