Wealthcare Advisory Partners LLC Sells 510 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Wealthcare Advisory Partners LLC decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 11.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,001 shares of the industrial products company’s stock after selling 510 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Illinois Tool Works were worth $1,014,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Fairscale Capital LLC acquired a new position in Illinois Tool Works in the 2nd quarter worth approximately $30,000. True Wealth Design LLC raised its position 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 worth $30,000 after acquiring an additional 106 shares during the period. Catalyst Capital Advisors LLC purchased a new position in Illinois Tool Works during the third quarter worth approximately $32,000. Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works in the 3rd quarter valued at $35,000. Finally, Financial Management Professionals Inc. increased its stake in shares of Illinois Tool Works by 28.0% during the third 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. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ITW. Jefferies Financial Group raised their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Robert W. Baird upped their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $270.11.

Illinois Tool Works Trading Up 0.2 %

ITW opened at $256.50 on Monday. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 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 1.94. The firm has a market cap of $75.74 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11. The business’s 50 day moving average is $264.26 and its two-hundred day moving average is $255.59.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the firm earned $2.55 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s payout ratio 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.