Mitchell & Pahl Private Wealth LLC Raises Position in Illinois Tool Works Inc. (NYSE:ITW)

Mitchell & Pahl Private Wealth LLC boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,885 shares of the industrial products company’s stock after purchasing an additional 360 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Illinois Tool Works were worth $1,999,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ITW. Fairscale Capital LLC bought a new stake in shares of Illinois Tool Works in the second quarter valued at $30,000. True Wealth Design LLC increased its holdings in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works in the 3rd quarter valued at about $32,000. Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works during the fourth quarter valued at about $33,000. Finally, Northwest Investment Counselors LLC bought a new position in Illinois Tool Works during the third quarter worth about $35,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Up 0.2 %

Shares of NYSE ITW opened at $256.50 on Tuesday. 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 business has a 50-day moving average of $264.26 and a 200-day moving average of $255.73. The firm has a market capitalization of $75.74 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 3.57 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.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.55 EPS. Sell-side 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 declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given 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 2.34%. Illinois Tool Works’s payout ratio is 51.90%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ITW. Wells Fargo & Company dropped their price target 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. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Citigroup reduced their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Robert W. Baird increased their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays reduced their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $270.11.

About Illinois Tool Works

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.