Illinois Tool Works Inc. (NYSE:ITW) Stock Position Reduced by MCF Advisors LLC

MCF Advisors LLC decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,583 shares of the industrial products company’s stock after selling 89 shares during the period. MCF Advisors LLC’s holdings in Illinois Tool Works were worth $403,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works in the 4th quarter valued at about $28,000. True Wealth Design LLC boosted its holdings in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works during the 3rd quarter valued at $32,000. Ulland Investment Advisors LLC bought a new position in Illinois Tool Works during the fourth quarter valued at about $33,000. Finally, Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works in the third quarter worth about $35,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 1.9 %

NYSE:ITW opened at $261.31 on Wednesday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company’s 50 day moving average is $263.91 and its 200-day moving average is $255.87. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The firm has a market cap of $77.17 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 3.57 and a beta of 1.11.

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, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.02 billion. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.55 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a dividend of $1.50 per share. The ex-dividend date 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 51.90%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ITW shares. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. 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 research report on Thursday, December 19th. Stifel Nicolaus lifted their price target on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Barclays lowered their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Finally, Citigroup lowered their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average 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.