Folger Nolan Fleming Douglas Capital Management Inc. Sells 466 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,401 shares of the industrial products company’s stock after selling 466 shares during the quarter. Illinois Tool Works makes up approximately 1.6% of Folger Nolan Fleming Douglas Capital Management Inc.’s holdings, making the stock its 15th biggest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Illinois Tool Works were worth $15,315,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its position in Illinois Tool Works by 1.2% during the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after purchasing an additional 149,272 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Illinois Tool Works by 2.7% in the third 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 during the period. Fisher Asset Management LLC lifted its position in shares of Illinois Tool Works by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after buying an additional 135,023 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Illinois Tool Works by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after acquiring an additional 62,645 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Illinois Tool Works by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock worth $484,685,000 after acquiring an additional 32,656 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.2 %

Shares of ITW stock opened at $256.50 on Friday. The stock’s 50-day moving average price is $264.57 and its 200-day moving average price is $255.29. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The stock has a market capitalization of $75.74 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 3.55 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 issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion for 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 company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.55 EPS. Equities research 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 disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a dividend of $1.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.90%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Truist Financial lifted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company cut their target price on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Two equities 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 given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.