Romano Brothers AND Company Decreases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Romano Brothers AND Company lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,459 shares of the industrial products company’s stock after selling 273 shares during the quarter. Romano Brothers AND Company’s holdings in Illinois Tool Works were worth $5,188,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ITW. State Street Corp lifted its position in shares of Illinois Tool Works by 1.2% in the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after acquiring an additional 149,272 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after purchasing an additional 167,422 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Illinois Tool Works by 4.2% during the 3rd 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 last quarter. Legal & General Group Plc grew its holdings 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 worth $640,425,000 after buying an additional 62,645 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Illinois Tool Works by 1.8% in 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 buying an additional 32,656 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.2 %

Shares of NYSE ITW opened at $256.50 on Friday. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The stock has a market cap of $75.74 billion, a P/E ratio of 22.19, a PEG ratio of 3.55 and a beta of 1.11. 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’s fifty day simple moving average is $264.26 and its 200-day simple moving average is $255.45.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results 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 company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.55 earnings per share. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed 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 2.34%. Illinois Tool Works’s payout ratio is currently 51.90%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ITW shares. Citigroup dropped 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 raised their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Truist Financial boosted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works presently has a consensus 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.