Eads & Heald Wealth Management Sells 49 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Eads & Heald Wealth Management lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,871 shares of the industrial products company’s stock after selling 49 shares during the period. Illinois Tool Works makes up about 1.2% of Eads & Heald Wealth Management’s portfolio, making the stock its 21st largest holding. Eads & Heald Wealth Management’s holdings in Illinois Tool Works were worth $2,503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ITW. AE Wealth Management LLC raised its stake in Illinois Tool Works by 32.8% in the second quarter. AE Wealth Management LLC now owns 3,490 shares of the industrial products company’s stock valued at $827,000 after purchasing an additional 862 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Illinois Tool Works by 9.5% in the 2nd quarter. Pacer Advisors Inc. now owns 35,325 shares of the industrial products company’s stock valued at $8,371,000 after buying an additional 3,071 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Illinois Tool Works by 21.3% during the 2nd quarter. Sei Investments Co. now owns 71,084 shares of the industrial products company’s stock worth $16,843,000 after acquiring an additional 12,496 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Illinois Tool Works by 71.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 34,889 shares of the industrial products company’s stock worth $8,267,000 after acquiring an additional 14,564 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its position in shares of Illinois Tool Works by 0.6% during the 2nd quarter. Epoch Investment Partners Inc. now owns 20,445 shares of the industrial products company’s stock worth $4,845,000 after acquiring an additional 124 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ITW shares. Truist Financial upped their target price 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. Barclays reduced their price objective on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday. Jefferies Financial Group boosted their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company lowered their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $270.11.

Illinois Tool Works Trading Up 1.9 %

NYSE ITW opened at $261.31 on Wednesday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $77.17 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 3.57 and a beta of 1.11. The business’s 50-day moving average price is $263.91 and its two-hundred day moving average price is $255.87.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the firm posted $2.55 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a dividend of $1.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.30%. Illinois Tool Works’s payout ratio is 51.90%.

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.