Boston Financial Mangement LLC Sells 125 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Boston Financial Mangement LLC lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,670 shares of the industrial products company’s stock after selling 125 shares during the period. Boston Financial Mangement LLC’s holdings in Illinois Tool Works were worth $2,705,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ITW. State Street Corp raised its position in Illinois Tool Works by 1.2% during the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after purchasing an additional 149,272 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Illinois Tool Works by 2.7% in the third 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 acquiring an additional 167,422 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Illinois Tool Works by 4.2% in the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock worth $877,234,000 after acquiring an additional 135,023 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Illinois Tool Works by 1.8% during the 3rd 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 worth $484,685,000 after acquiring an additional 32,656 shares in the last quarter. Finally, Stifel Financial Corp increased its position in Illinois Tool Works by 1.0% during the 3rd quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company’s stock valued at $460,533,000 after purchasing an additional 17,139 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.7 %

NYSE:ITW opened at $264.04 on Thursday. The company’s 50 day moving average is $257.39 and its two-hundred day moving average is $258.07. The company has a market cap of $77.97 billion, a PE ratio of 22.53, a P/E/G ratio of 4.42 and a beta of 1.11. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Analysts anticipate that Illinois Tool Works Inc. will post 10.41 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.19%.

Analyst Ratings Changes

ITW has been the topic of a number of recent research reports. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Citigroup dropped their target price on 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 price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company cut their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $269.30.

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.