Cordatus Wealth Management LLC Has $3.05 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Cordatus Wealth Management LLC boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,040 shares of the industrial products company’s stock after acquiring an additional 99 shares during the period. Cordatus Wealth Management LLC’s holdings in Illinois Tool Works were worth $3,053,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ITW. Nicholson Wealth Management Group LLC raised its stake in shares of Illinois Tool Works by 77.3% in the fourth quarter. Nicholson Wealth Management Group LLC now owns 5,634 shares of the industrial products company’s stock valued at $1,429,000 after purchasing an additional 2,457 shares in the last quarter. Wolverine Asset Management LLC increased its holdings in Illinois Tool Works by 111.1% in the 4th quarter. Wolverine Asset Management LLC now owns 9,500 shares of the industrial products company’s stock valued at $2,409,000 after buying an additional 5,000 shares during the period. Mattern Capital Management LLC raised its stake in shares of Illinois Tool Works by 2.1% in the 4th quarter. Mattern Capital Management LLC now owns 34,299 shares of the industrial products company’s stock valued at $8,697,000 after buying an additional 698 shares in the last quarter. Flossbach Von Storch SE lifted its holdings in shares of Illinois Tool Works by 34.5% during the 4th quarter. Flossbach Von Storch SE now owns 300,760 shares of the industrial products company’s stock worth $76,261,000 after acquiring an additional 77,164 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its position in shares of Illinois Tool Works by 9.1% during the 4th quarter. Concurrent Investment Advisors LLC now owns 15,148 shares of the industrial products company’s stock valued at $3,841,000 after acquiring an additional 1,259 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on ITW shares. Wells Fargo & Company cut their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Barclays cut their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Jefferies Financial Group upped their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Stifel Nicolaus cut their price objective on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. 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 research note on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $269.30.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $265.42 on Friday. The stock has a 50-day simple moving average of $257.23 and a 200 day simple moving average of $258.12. The stock has a market capitalization of $77.90 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 4.52 and a beta of 1.11. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. 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 announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.41 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is 51.19%.

Illinois Tool Works 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.