Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Range Financial Group LLC

Range Financial Group LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 168.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,288 shares of the industrial products company’s stock after purchasing an additional 2,690 shares during the period. Range Financial Group LLC’s holdings in Illinois Tool Works were worth $1,087,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. True Wealth Design LLC boosted 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 acquiring an additional 106 shares during the period. Fairscale Capital LLC acquired a new stake in Illinois Tool Works during the 2nd quarter worth $30,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works during the third quarter worth about $32,000. Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works in the 3rd quarter valued at about $35,000. Finally, Meeder Asset Management Inc. raised its stake in Illinois Tool Works by 261.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 115 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of recent research reports. Jefferies Financial Group boosted their target price on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Citigroup boosted their price target on shares of Illinois Tool Works from $266.00 to $279.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday. Truist Financial upped their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus raised their price objective 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. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $268.50.

Illinois Tool Works Trading Down 0.6 %

Shares of NYSE:ITW traded down $1.57 during midday trading on Tuesday, reaching $248.79. The company’s stock had a trading volume of 685,393 shares, compared to its average volume of 772,634. 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 firm has a market cap of $73.47 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 4.22 and a beta of 1.11. The business has a 50 day moving average price of $267.01 and a 200 day moving average price of $254.89. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results 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. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the firm posted $2.55 earnings per share. Illinois Tool Works’s revenue was down 1.6% on a year-over-year basis. Research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

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.