Board of the Pension Protection Fund Makes New $634,000 Investment in Illinois Tool Works Inc. (NYSE:ITW)

Board of the Pension Protection Fund purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,500 shares of the industrial products company’s stock, valued at approximately $634,000.

Several other large investors have also recently made changes to their positions in ITW. Fairscale Capital LLC purchased a new position in shares of Illinois Tool Works during the second quarter worth $30,000. True Wealth Design LLC boosted its holdings in 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 acquiring an additional 106 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works in the 3rd quarter valued at about $32,000. Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works during the third quarter worth about $35,000. Finally, Financial Management Professionals Inc. lifted its position in shares of Illinois Tool Works by 28.0% during the third quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 47 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ITW shares. Truist Financial upped their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus increased their price objective on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday. Citigroup reduced their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company cut their target price on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $270.11.

Illinois Tool Works Stock Up 1.2 %

ITW stock opened at $252.77 on Wednesday. The company’s 50 day moving average is $265.34 and its two-hundred day moving average is $255.30. 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 1.94. The stock has a market cap of $74.64 billion, a P/E ratio of 21.87, a PEG ratio of 4.22 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the firm posted $2.55 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.6% on a year-over-year basis. Research analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

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.