Illinois Tool Works Inc. (NYSE:ITW) Stake Lifted by Mattern Capital Management LLC

Mattern Capital Management LLC increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,299 shares of the industrial products company’s stock after acquiring an additional 698 shares during the period. Mattern Capital Management LLC’s holdings in Illinois Tool Works were worth $8,697,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ITW. Allspring Global Investments Holdings LLC boosted its holdings in shares of Illinois Tool Works by 66.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 23,188 shares of the industrial products company’s stock valued at $6,077,000 after acquiring an additional 9,271 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in Illinois Tool Works by 7.4% during the third quarter. Foundations Investment Advisors LLC now owns 1,525 shares of the industrial products company’s stock worth $400,000 after buying an additional 105 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Illinois Tool Works by 6.2% during the third quarter. Sequoia Financial Advisors LLC now owns 6,299 shares of the industrial products company’s stock worth $1,651,000 after buying an additional 367 shares in the last quarter. Stanley Laman Group Ltd. bought a new stake in Illinois Tool Works during the third quarter worth approximately $233,000. Finally, Private Advisor Group LLC boosted its holdings in Illinois Tool Works by 3.5% during the third quarter. Private Advisor Group LLC now owns 44,762 shares of the industrial products company’s stock worth $11,731,000 after buying an additional 1,513 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Up 0.5 %

Shares of NYSE:ITW opened at $265.42 on Friday. The firm has a fifty day moving average of $257.23 and a two-hundred day moving average of $258.12. The firm has a market capitalization of $77.90 billion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 4.49 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. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (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 analysts expect that Illinois Tool Works Inc. will post 10.41 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.26%. Illinois Tool Works’s payout ratio is 51.19%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ITW. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Evercore ISI reduced their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday. Barclays reduced their price target on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Citigroup lowered 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. Finally, Wells Fargo & Company lowered their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $269.30.

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.