BKM Wealth Management LLC Has $240,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

BKM Wealth Management LLC lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 41.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 946 shares of the industrial products company’s stock after selling 658 shares during the period. BKM Wealth Management LLC’s holdings in Illinois Tool Works were worth $240,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ITW. Sugar Maple Asset Management LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at $28,000. True Wealth Design LLC boosted its stake in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at $32,000. Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the subject of several analyst reports. Citigroup reduced their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Barclays reduced their price objective on shares of 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. Finally, Jefferies Financial Group lifted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $271.00.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $262.03 on Wednesday. The firm’s 50-day moving average is $257.57 and its 200-day moving average is $258.02. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36. The company has a market cap of $77.38 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 4.79 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.38 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.29%. Illinois Tool Works’s payout ratio is currently 51.19%.

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.