Mission Wealth Management LP trimmed its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 56.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,294 shares of the industrial products company's stock after selling 2,987 shares during the quarter. Mission Wealth Management LP's holdings in Illinois Tool Works were worth $582,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at $28,000. True Wealth Design LLC grew its position in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock valued at $30,000 after buying an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Illinois Tool Works in the 3rd quarter valued at $32,000. Ulland Investment Advisors LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at $33,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at $37,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of ITW stock traded up $4.19 during mid-day trading on Thursday, hitting $265.24. The stock had a trading volume of 1,525,899 shares, compared to its average volume of 1,024,942. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The firm has a market cap of $77.85 billion, a PE ratio of 22.63, a PEG ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The company's 50-day simple moving average is $257.18 and its 200-day simple moving average is $259.71.
Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is 51.19%.
A number of research firms recently commented on ITW. Stifel Nicolaus dropped their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group increased their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Truist Financial raised their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Barclays lowered their price objective on shares of Illinois Tool Works from $265.00 to $262.00 and set an "equal weight" rating on the stock in a research report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective on the stock in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of "Hold" and an average price target of $269.30.
Read Our Latest Stock Analysis on ITW
In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.88% of the company's stock.
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.
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