Cardinal Capital Management Raises Stake in Illinois Tool Works Inc. (NYSE:ITW)

Cardinal Capital Management lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,185 shares of the industrial products company’s stock after buying an additional 87 shares during the period. Illinois Tool Works makes up approximately 1.6% of Cardinal Capital Management’s holdings, making the stock its 15th largest holding. Cardinal Capital Management’s holdings in Illinois Tool Works were worth $10,504,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ITW. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth about $28,000. True Wealth Design LLC lifted its holdings in 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 buying an additional 106 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of Illinois Tool Works in the 3rd quarter worth approximately $32,000. Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works in the fourth quarter worth $33,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works during the third quarter valued at about $35,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup decreased 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. JPMorgan Chase & Co. decreased their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Stifel Nicolaus dropped their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Barclays cut their price target on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $271.00.

Illinois Tool Works Stock Down 0.8 %

Illinois Tool Works stock opened at $257.98 on Tuesday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The stock has a fifty day simple moving average of $258.13 and a two-hundred day simple moving average of $257.79. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.90. The firm has a market cap of $76.18 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 4.79 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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 predict that Illinois Tool Works Inc. will post 10.38 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders 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 2.33%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 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.