WASHINGTON TRUST Co Raises Holdings in Illinois Tool Works Inc. (NYSE:ITW)

WASHINGTON TRUST Co lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 25.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,985 shares of the industrial products company’s stock after purchasing an additional 400 shares during the period. WASHINGTON TRUST Co’s holdings in Illinois Tool Works were worth $503,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. PUREfi Wealth LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $218,000. ABC Arbitrage SA purchased a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $1,219,000. Valeo Financial Advisors LLC increased its stake in shares of Illinois Tool Works by 2.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 3,147 shares of the industrial products company’s stock worth $798,000 after purchasing an additional 67 shares in the last quarter. Asset Planning Inc purchased a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $40,000. Finally, V Square Quantitative Management LLC increased its stake in shares of Illinois Tool Works by 1.4% during the 4th quarter. V Square Quantitative Management LLC now owns 5,982 shares of the industrial products company’s stock worth $1,517,000 after purchasing an additional 82 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Down 0.8 %

Shares of ITW opened at $257.98 on Friday. The company’s fifty day moving average is $258.13 and its two-hundred day moving average is $257.65. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a market cap of $76.18 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Analysts forecast that Illinois Tool Works Inc. will post 10.38 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.33%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.19%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price 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. Stifel Nicolaus decreased their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays decreased their target price on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Finally, Citigroup decreased their target price 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. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.