BCS Wealth Management Takes $216,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

BCS Wealth Management purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 852 shares of the industrial products company’s stock, valued at approximately $216,000.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its position in shares of Illinois Tool Works by 1.2% in the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after buying an additional 149,272 shares during the period. Geode Capital Management LLC boosted its stake in Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after acquiring an additional 167,422 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Illinois Tool Works by 4.2% in the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock worth $877,234,000 after purchasing an additional 135,023 shares during the period. Legal & General Group Plc increased its stake in shares of Illinois Tool Works by 2.4% during the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after purchasing an additional 62,645 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Illinois Tool Works by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock valued at $484,685,000 after purchasing an additional 32,656 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ITW. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus raised their price target on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Barclays cut their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their target price for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, Citigroup cut their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday. Two research analysts have rated the stock with a sell rating, six have given 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 stock has a consensus rating of “Hold” and a consensus target price of $270.11.

Illinois Tool Works Price Performance

Shares of ITW opened at $252.77 on Wednesday. The firm has a market cap of $74.64 billion, a PE ratio of 21.87, a P/E/G ratio of 4.22 and a beta of 1.11. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year 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 firm has a fifty day simple moving average of $265.34 and a two-hundred day simple moving average of $255.30.

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

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.37%. Illinois Tool Works’s dividend 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.