Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Aspiriant LLC

Aspiriant LLC grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 6.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 957 shares of the industrial products company’s stock after buying an additional 61 shares during the period. Aspiriant LLC’s holdings in Illinois Tool Works were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITW. Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $28,000. True Wealth Design LLC increased its holdings in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in Illinois Tool Works during the third quarter worth approximately $32,000. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works during the fourth quarter worth $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter valued at $35,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ITW. Truist Financial boosted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price target for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Jefferies Financial Group lifted their price target 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. Barclays lowered their price objective on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Finally, StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $270.11.

Illinois Tool Works Stock Up 1.9 %

Shares of ITW opened at $261.31 on Wednesday. The company’s 50-day simple moving average is $263.91 and its 200-day simple moving average is $255.87. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The stock has a market capitalization of $77.17 billion, a PE ratio of 22.60, a P/E/G ratio of 3.57 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the company posted $2.55 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. Analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.30%. Illinois Tool Works’s dividend payout ratio (DPR) 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.