DLK Investment Management LLC Decreases Holdings in Illinois Tool Works Inc. (NYSE:ITW)

DLK Investment Management LLC cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,321 shares of the industrial products company’s stock after selling 357 shares during the period. Illinois Tool Works accounts for about 2.5% of DLK Investment Management LLC’s portfolio, making the stock its 14th biggest position. DLK Investment Management LLC’s holdings in Illinois Tool Works were worth $5,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Fairscale Capital LLC purchased a new stake in Illinois Tool Works in the 2nd quarter worth about $30,000. True Wealth Design LLC lifted its stake in shares of Illinois Tool Works by 1,060.0% during 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 last quarter. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the 3rd quarter valued at $32,000. Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works in the third quarter worth $35,000. Finally, Financial Management Professionals Inc. boosted its stake in shares of Illinois Tool Works by 28.0% during the third quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 47 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Up 0.2 %

Shares of Illinois Tool Works stock opened at $256.50 on Monday. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The firm’s 50 day moving average price is $264.26 and its 200-day moving average price is $255.59. 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 company has a market cap of $75.74 billion, a P/E ratio of 22.19, a PEG ratio of 3.55 and a beta of 1.11.

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

Illinois Tool Works Dividend Announcement

The firm also recently declared 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 yield of 2.34%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays dropped 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. Wells Fargo & Company dropped their price target on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Jefferies Financial Group lifted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their target price for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $270.11.

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.