Shulman DeMeo Asset Management LLC Has $432,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Shulman DeMeo Asset Management LLC decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 14.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,705 shares of the industrial products company’s stock after selling 288 shares during the period. Shulman DeMeo Asset Management LLC’s holdings in Illinois Tool Works were worth $432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. boosted its position in shares of Illinois Tool Works by 25.8% during the 2nd quarter. Federated Hermes Inc. now owns 12,753 shares of the industrial products company’s stock worth $3,022,000 after acquiring an additional 2,617 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Illinois Tool Works by 5.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,362 shares of the industrial products company’s stock valued at $1,271,000 after purchasing an additional 287 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its holdings in shares of Illinois Tool Works by 1.7% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 8,441 shares of the industrial products company’s stock worth $2,000,000 after buying an additional 142 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Illinois Tool Works by 1.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 30,269 shares of the industrial products company’s stock worth $7,172,000 after buying an additional 468 shares during the last quarter. Finally, Tredje AP fonden boosted its stake in Illinois Tool Works by 131.5% in the second quarter. Tredje AP fonden now owns 17,782 shares of the industrial products company’s stock valued at $4,214,000 after buying an additional 10,100 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

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

Illinois Tool Works Trading Up 0.8 %

Shares of ITW stock opened at $255.83 on Friday. The company has a market capitalization of $75.55 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11. 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 business’s fifty day moving average is $264.91 and its 200 day moving average is $255.29. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data 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. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company posted $2.55 EPS. On average, equities research analysts anticipate 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. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) 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.