Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Nicholson Wealth Management Group LLC

Nicholson Wealth Management Group LLC boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 77.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,634 shares of the industrial products company’s stock after purchasing an additional 2,457 shares during the quarter. Nicholson Wealth Management Group LLC’s holdings in Illinois Tool Works were worth $1,429,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its stake in shares of Illinois Tool Works by 1.2% during the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after purchasing an additional 149,272 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after purchasing an additional 167,422 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Illinois Tool Works by 4.2% during 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 purchasing an additional 135,023 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Illinois Tool Works by 1.8% during the third 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 purchasing an additional 32,656 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Illinois Tool Works by 1.0% during the third quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company’s stock worth $460,533,000 after purchasing an additional 17,139 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Truist Financial boosted 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. Wells Fargo & Company cut their price target 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. Stifel Nicolaus cut their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $269.30.

Illinois Tool Works Stock Up 0.5 %

Shares of Illinois Tool Works stock opened at $265.42 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a market cap of $77.90 billion, a P/E ratio of 22.65, a P/E/G ratio of 4.52 and a beta of 1.11. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The business has a 50-day moving average price of $257.23 and a 200 day moving average price of $258.12.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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%. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.41 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. 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 presently 51.19%.

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.