Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Principal Securities Inc.

Principal Securities Inc. grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 25.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,695 shares of the industrial products company’s stock after purchasing an additional 1,377 shares during the quarter. Principal Securities Inc.’s holdings in Illinois Tool Works were worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of ITW. Sugar Maple Asset Management LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at $28,000. True Wealth Design LLC boosted its stake 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 valued at $30,000 after acquiring an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Illinois Tool Works during the third quarter worth about $32,000. Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works in the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of ITW opened at $262.03 on Wednesday. The firm has a market capitalization of $77.38 billion, a PE ratio of 22.36, a P/E/G ratio of 4.79 and a beta of 1.11. The stock’s 50 day moving average is $257.80 and its two-hundred day moving average is $257.90. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating 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%. 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 business also recently disclosed 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. This represents a $6.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.19%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ITW. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. 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. Wells Fargo & Company decreased their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Barclays dropped their price target on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Finally, Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Two 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.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $271.00.

Illinois Tool Works Company 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.