Lynch & Associates IN Raises Position in Illinois Tool Works Inc. (NYSE:ITW)

Lynch & Associates IN lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,138 shares of the industrial products company’s stock after purchasing an additional 117 shares during the period. Lynch & Associates IN’s holdings in Illinois Tool Works were worth $4,092,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new stake in shares of Illinois Tool Works in the second quarter valued at $30,000. True Wealth Design LLC lifted its stake in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in Illinois Tool Works during the third quarter worth approximately $32,000. Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works in the third quarter valued at $35,000. Finally, Meeder Asset Management Inc. lifted its position in Illinois Tool Works by 261.4% during the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after buying an additional 115 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ITW has been the topic of several recent analyst reports. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Citigroup increased their target price on Illinois Tool Works from $266.00 to $279.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price target for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Barclays reduced their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $268.00.

Illinois Tool Works Stock Performance

ITW traded down $2.60 on Friday, hitting $245.01. 1,152,589 shares of the company’s stock were exchanged, compared to its average volume of 886,400. 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 fifty day moving average of $266.27 and a two-hundred day moving average of $254.85. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The firm has a market cap of $72.35 billion, a PE ratio of 21.19, a P/E/G ratio of 4.22 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (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 analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.55 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s payout ratio is 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.