Crestmont Private Wealth LLC Boosts Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Crestmont Private Wealth LLC boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,637 shares of the industrial products company’s stock after acquiring an additional 88 shares during the period. Illinois Tool Works accounts for 0.3% of Crestmont Private Wealth LLC’s portfolio, making the stock its 21st largest holding. Crestmont Private Wealth LLC’s holdings in Illinois Tool Works were worth $669,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Franklin Resources Inc. grew its stake in shares of Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after buying an additional 398,676 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Illinois Tool Works by 26,088.4% in the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock worth $847,610,000 after buying an additional 322,192 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after buying an additional 308,935 shares in the last quarter. AXA S.A. grew its stake in shares of Illinois Tool Works by 242.3% in the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock worth $80,888,000 after buying an additional 241,618 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after buying an additional 167,422 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 1.2 %

NYSE:ITW opened at $252.77 on Wednesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The firm has a 50-day simple moving average of $265.34 and a 200-day simple moving average of $255.30. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The firm has a market cap of $74.64 billion, a P/E ratio of 21.87, a P/E/G ratio of 4.22 and a beta of 1.11.

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

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.90%.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of recent analyst reports. Barclays reduced their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. 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 note on Thursday, December 19th. Citigroup cut their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday. Stifel Nicolaus boosted 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. Finally, StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $270.11.

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.