Eads & Heald Wealth Management Sells 49 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Eads & Heald Wealth Management lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 9,871 shares of the industrial products company’s stock after selling 49 shares during the period. Illinois Tool Works comprises 1.2% of Eads & Heald Wealth Management’s holdings, making the stock its 21st largest position. Eads & Heald Wealth Management’s holdings in Illinois Tool Works were worth $2,503,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ITW. AE Wealth Management LLC lifted its position in Illinois Tool Works by 32.8% in the 2nd quarter. AE Wealth Management LLC now owns 3,490 shares of the industrial products company’s stock valued at $827,000 after acquiring an additional 862 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Illinois Tool Works by 9.5% in the second quarter. Pacer Advisors Inc. now owns 35,325 shares of the industrial products company’s stock worth $8,371,000 after purchasing an additional 3,071 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Illinois Tool Works by 21.3% in the second quarter. Sei Investments Co. now owns 71,084 shares of the industrial products company’s stock valued at $16,843,000 after purchasing an additional 12,496 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Illinois Tool Works by 71.7% during the second quarter. Thrivent Financial for Lutherans now owns 34,889 shares of the industrial products company’s stock valued at $8,267,000 after buying an additional 14,564 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in Illinois Tool Works by 0.6% during the second quarter. Epoch Investment Partners Inc. now owns 20,445 shares of the industrial products company’s stock worth $4,845,000 after buying an additional 124 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 1.9 %

Shares of NYSE ITW opened at $261.31 on Wednesday. The business’s fifty day moving average price is $263.91 and its 200-day moving average price is $255.87. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The stock has a market capitalization of $77.17 billion, a PE ratio of 22.60, a P/E/G ratio of 3.57 and a beta of 1.11. 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 posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.55 earnings per share. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were paid a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.30%. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Citigroup dropped their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Truist Financial upped their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Jefferies Financial Group lifted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $270.11.

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.