Goldstone Financial Group LLC Increases Stake in Illinois Tool Works Inc. (NYSE:ITW)

Goldstone Financial Group LLC grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,516 shares of the industrial products company’s stock after buying an additional 87 shares during the period. Goldstone Financial Group LLC’s holdings in Illinois Tool Works were worth $384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its position in shares of Illinois Tool Works by 1.2% during 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 boosted its stake in Illinois Tool Works by 2.7% during 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 during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Illinois Tool Works by 4.2% in 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 in the last quarter. Legal & General Group Plc raised its stake in shares of Illinois Tool Works by 2.4% in 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 purchasing an additional 62,645 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Illinois Tool Works by 1.8% during 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 purchasing an additional 32,656 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

ITW opened at $255.83 on Friday. The firm has a market cap of $75.55 billion, a P/E ratio of 22.13, a PEG ratio of 3.55 and a beta of 1.11. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company has a 50 day simple moving average of $264.91 and a two-hundred day simple moving average of $255.29. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the business posted $2.55 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. Equities analysts forecast 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 was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.35%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ITW shares. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Barclays decreased their price objective 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. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird boosted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price target for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $270.11.

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.