Illinois Tool Works Inc. (NYSE:ITW) Holdings Cut by Annex Advisory Services LLC

Annex Advisory Services LLC decreased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,635 shares of the industrial products company’s stock after selling 60 shares during the quarter. Annex Advisory Services LLC’s holdings in Illinois Tool Works were worth $415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nikulski Financial Inc. raised its stake in shares of Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after buying an additional 39 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in Illinois Tool Works by 2.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 40 shares during the period. Sigma Planning Corp grew its holdings in Illinois Tool Works by 0.9% during the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after purchasing an additional 41 shares during the period. Harbour Investments Inc. grew its holdings in Illinois Tool Works by 1.1% during the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after purchasing an additional 41 shares during the period. Finally, Procyon Advisors LLC grew its holdings in Illinois Tool Works by 2.7% during the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock valued at $422,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $256.50 on Tuesday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The firm has a fifty day simple moving average of $264.26 and a 200 day simple moving average of $255.73. The stock has a market capitalization of $75.74 billion, a price-to-earnings 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.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping 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 business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the company posted $2.55 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. Research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS 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. This represents a $6.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.90%.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of analyst reports. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Jefferies Financial Group upped their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Barclays reduced their price target on shares of 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. Finally, Truist Financial upped their price target 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 issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus 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.