Philip James Wealth Mangement LLC Sells 100 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Philip James Wealth Mangement LLC lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,270 shares of the industrial products company’s stock after selling 100 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in Illinois Tool Works were worth $576,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Pensionfund Sabic boosted its stake in Illinois Tool Works by 37.0% in the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after purchasing an additional 2,000 shares during the period. Franklin Resources Inc. boosted its stake in Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after purchasing an additional 398,676 shares during the period. Clark & Stuart Inc bought a new position in Illinois Tool Works in the 4th quarter worth about $1,729,000. Czech National Bank raised its holdings in shares of Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after acquiring an additional 3,227 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Illinois Tool Works in the 3rd quarter valued at about $1,179,000. Institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ITW shares. Truist Financial raised their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Barclays lowered their price target on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Wells Fargo & Company lowered their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Evercore ISI cut 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 report on Wednesday, November 13th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $257.98 on Monday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97. The business’s 50 day simple moving average is $258.13 and its two-hundred day simple moving average is $257.71. The stock has a market capitalization of $76.18 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. 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 announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Analysts forecast that Illinois Tool Works Inc. will post 10.38 EPS for the current year.

Illinois Tool Works Announces Dividend

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

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.