Good Life Advisors LLC Has $471,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Good Life Advisors LLC lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 56.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,859 shares of the industrial products company’s stock after selling 2,399 shares during the period. Good Life Advisors LLC’s holdings in Illinois Tool Works were worth $471,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth $28,000. True Wealth Design LLC increased its position in 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 worth $30,000 after purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter worth about $32,000. Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $33,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $37,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 0.5 %

Illinois Tool Works stock opened at $265.42 on Friday. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The firm has a market capitalization of $77.90 billion, a PE ratio of 22.65, a PEG ratio of 4.49 and a beta of 1.11. The business’s 50-day simple moving average is $257.23 and its 200-day simple moving average is $258.12.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping 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%. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.41 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Analyst Ratings Changes

Several brokerages recently weighed in on ITW. 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. Robert W. Baird raised their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus decreased their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. 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 report on Thursday, February 6th. Finally, Truist Financial upped their price target 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. Two analysts have rated the stock with a sell rating, seven have given 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, the company has a consensus rating of “Hold” and a consensus target price of $269.30.

Illinois Tool Works 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.