Atlas Legacy Advisors LLC Invests $483,000 in Illinois Tool Works Inc. (NYSE:ITW)

Atlas Legacy Advisors LLC purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,903 shares of the industrial products company’s stock, valued at approximately $483,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITW. Sugar Maple Asset Management LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $28,000. True Wealth Design LLC lifted its position in 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 buying an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in Illinois Tool Works during the third quarter worth $32,000. Ulland Investment Advisors LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at $33,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works in the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ITW. Citigroup reduced their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Barclays decreased their price target on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Stifel Nicolaus cut their price objective on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Jefferies Financial Group upped their price target 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. Two investment 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $271.00.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $262.03 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The stock’s fifty day moving average price is $257.57 and its 200-day moving average price is $258.02. The firm has a market cap of $77.38 billion, a P/E ratio of 22.36, a P/E/G ratio of 4.42 and a beta of 1.11. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, equities research analysts expect that Illinois Tool Works Inc. will post 10.41 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.29%. Illinois Tool Works’s dividend payout ratio is presently 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.