Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Perfromance Wealth Partners LLC

Perfromance Wealth Partners LLC grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,841 shares of the industrial products company’s stock after purchasing an additional 229 shares during the period. Perfromance Wealth Partners LLC’s holdings in Illinois Tool Works were worth $720,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Sugar Maple Asset Management LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth about $28,000. True Wealth Design LLC increased its holdings in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter worth about $32,000. Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth about $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter worth about $35,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ITW has been the topic of a number of analyst reports. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup lowered their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Robert W. Baird raised their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays lowered their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and an average price target of $270.11.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $261.31 on Wednesday. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The company has a 50-day moving average of $263.91 and a 200-day moving average of $255.87. The firm has a market cap of $77.17 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 3.57 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last announced 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 net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period last year, the company posted $2.55 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

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

About Illinois Tool Works

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.