Illinois Tool Works Inc. (NYSE:ITW) Position Decreased by Monarch Capital Management Inc.

Monarch Capital Management Inc. reduced its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 28.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,513 shares of the industrial products company’s stock after selling 596 shares during the quarter. Monarch Capital Management Inc.’s holdings in Illinois Tool Works were worth $385,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ITW. Fairscale Capital LLC acquired a new stake in shares of Illinois Tool Works during the 2nd quarter valued at $30,000. True Wealth Design LLC raised its position in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works during the third quarter valued at $32,000. Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works in the 3rd quarter valued at $35,000. Finally, Financial Management Professionals Inc. increased its stake in Illinois Tool Works by 28.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 47 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $256.50 on Friday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The business’s 50-day moving average price is $264.26 and its two-hundred day moving average price is $255.45. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The company has a market capitalization of $75.74 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The business 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.55 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s payout ratio is presently 51.90%.

Analyst Upgrades and Downgrades

ITW has been the subject of several recent analyst reports. Robert W. Baird raised their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price objective for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Barclays lowered their price target on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.