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

Fiduciary Financial Group LLC grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,400 shares of the industrial products company’s stock after acquiring an additional 92 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Illinois Tool Works were worth $343,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. State Street Corp raised its stake in Illinois Tool Works by 1.2% in the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after buying an additional 149,272 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after buying an additional 167,422 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Illinois Tool Works by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after purchasing an additional 135,023 shares in the last quarter. Legal & General Group Plc boosted its holdings in Illinois Tool Works by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after purchasing an additional 62,645 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Illinois Tool Works by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock valued at $484,685,000 after acquiring an additional 32,656 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $252.77 on Wednesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The firm’s 50-day simple moving average is $265.34 and its 200-day simple moving average is $255.30. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The firm has a market cap of $74.64 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 4.22 and a beta of 1.11.

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

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Analyst Upgrades and Downgrades

ITW has been the subject of several research reports. Citigroup cut their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday. Jefferies Financial Group boosted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Wells Fargo & Company cut their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Truist Financial upped their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Robert W. Baird increased their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and an average price target of $270.11.

Illinois Tool Works 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.