International Assets Investment Management LLC Has $362,000 Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

International Assets Investment Management LLC cut its position in Illinois Tool Works Inc. (NYSE:ITW) by 99.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,448 shares of the industrial products company’s stock after selling 321,979 shares during the quarter. International Assets Investment Management LLC’s holdings in Illinois Tool Works were worth $362,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ITW. True Wealth Design LLC increased its holdings 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 valued at $30,000 after acquiring an additional 106 shares in the last quarter. Fairscale Capital LLC bought a new stake in Illinois Tool Works during the 2nd quarter valued at $30,000. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works during the third quarter worth $32,000. Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works in the third quarter valued at $35,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Illinois Tool Works by 261.4% during the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after buying an additional 115 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on ITW shares. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company lowered their target price on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Truist Financial increased their price target on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Robert W. Baird increased their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $271.67.

Illinois Tool Works Trading Down 1.1 %

NYSE:ITW opened at $245.01 on Friday. 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 firm has a market capitalization of $72.35 billion, a P/E ratio of 21.19, a PEG ratio of 4.22 and a beta of 1.11. The company’s 50-day simple moving average is $265.91 and its 200 day simple moving average is $254.99. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the prior year, the firm posted $2.55 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were paid a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.45%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 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.