Inspirion Wealth Advisors LLC Acquires 100 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Inspirion Wealth Advisors LLC lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,218 shares of the industrial products company’s stock after acquiring an additional 100 shares during the period. Inspirion Wealth Advisors LLC’s holdings in Illinois Tool Works were worth $303,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. West Coast Financial LLC increased its holdings in Illinois Tool Works by 1.4% during the 4th quarter. West Coast Financial LLC now owns 47,066 shares of the industrial products company’s stock worth $11,934,000 after acquiring an additional 668 shares during the period. Flywheel Private Wealth LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth $263,000. Outlook Wealth Advisors LLC grew its position in Illinois Tool Works by 17.3% during the fourth quarter. Outlook Wealth Advisors LLC now owns 1,620 shares of the industrial products company’s stock worth $411,000 after buying an additional 239 shares in the last quarter. Sawyer & Company Inc increased its stake in Illinois Tool Works by 0.5% in the 4th quarter. Sawyer & Company Inc now owns 11,073 shares of the industrial products company’s stock worth $2,808,000 after acquiring an additional 55 shares during the last quarter. Finally, Websterrogers Financial Advisors LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $219,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 0.8 %

NYSE:ITW opened at $255.83 on Friday. 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 company has a fifty day moving average of $264.91 and a 200 day moving average of $255.29. The firm has a market capitalization of $75.55 billion, a P/E ratio of 22.13, a P/E/G ratio of 3.55 and a beta of 1.11. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share 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 business 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 EPS. The business’s revenue was down 1.6% on a year-over-year basis. On average, research analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ITW. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Stifel Nicolaus raised their price objective on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Truist Financial lifted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Robert W. Baird upped their price objective 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. Two research analysts have rated the stock with a sell rating, six have assigned 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.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price 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.