Illinois Tool Works Inc. (NYSE:ITW) Position Reduced by Kestra Investment Management LLC

Kestra Investment Management LLC decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,982 shares of the industrial products company’s stock after selling 62 shares during the quarter. Kestra Investment Management LLC’s holdings in Illinois Tool Works were worth $503,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works during the fourth quarter worth approximately $28,000. True Wealth Design LLC increased its holdings in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Illinois Tool Works in the third quarter valued at $32,000. Ulland Investment Advisors LLC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at $33,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works in the third quarter valued at $35,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 1.5 %

Illinois Tool Works stock opened at $262.03 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company’s fifty day simple moving average is $257.57 and its 200-day simple moving average is $258.02. The stock has a market cap of $77.38 billion, a P/E ratio of 22.36, a P/E/G ratio of 4.79 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.38 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s payout ratio is presently 51.19%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ITW shares. Stifel Nicolaus dropped their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company dropped their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Citigroup lowered their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. lowered their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Two investment 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 company’s stock. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $271.00.

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.