Martel Wealth Advisors Inc Buys Shares of 3,000 Illinois Tool Works Inc. (NYSE:ITW)

Martel Wealth Advisors Inc purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,000 shares of the industrial products company’s stock, valued at approximately $761,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. AE Wealth Management LLC lifted its stake in 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 during the period. Pacer Advisors Inc. raised its position in shares of Illinois Tool Works by 9.5% in the 2nd 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 during the period. Sei Investments Co. boosted its stake in Illinois Tool Works by 21.3% during the 2nd quarter. Sei Investments Co. now owns 71,084 shares of the industrial products company’s stock worth $16,843,000 after acquiring an additional 12,496 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Illinois Tool Works by 71.7% during the second 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 during the period. Finally, Summit Trail Advisors LLC increased its stake in Illinois Tool Works by 13.5% in the second quarter. Summit Trail Advisors LLC now owns 3,112 shares of the industrial products company’s stock valued at $742,000 after purchasing an additional 370 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of research analyst reports. Truist Financial raised their price target on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company cut 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. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Robert W. Baird increased their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $270.11.

Illinois Tool Works Trading Up 0.2 %

Shares of Illinois Tool Works stock opened at $256.50 on Tuesday. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. 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’s 50 day moving average is $264.26 and its 200-day moving average is $255.73. The stock has a market cap of $75.74 billion, a P/E ratio of 22.19, a P/E/G ratio of 3.57 and a beta of 1.11.

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

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. Illinois Tool Works’s dividend payout ratio is currently 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.