Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by JGP Wealth Management LLC

JGP Wealth Management LLC grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,231 shares of the industrial products company’s stock after purchasing an additional 463 shares during the period. Illinois Tool Works comprises about 1.4% of JGP Wealth Management LLC’s holdings, making the stock its 28th biggest holding. JGP Wealth Management LLC’s holdings in Illinois Tool Works were worth $10,454,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of ITW. Federated Hermes Inc. boosted its stake in shares of Illinois Tool Works by 25.8% during the 2nd quarter. Federated Hermes Inc. now owns 12,753 shares of the industrial products company’s stock worth $3,022,000 after acquiring an additional 2,617 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Illinois Tool Works by 5.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,362 shares of the industrial products company’s stock valued at $1,271,000 after buying an additional 287 shares during the period. Bradley Foster & Sargent Inc. CT boosted its position in shares of Illinois Tool Works by 1.7% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 8,441 shares of the industrial products company’s stock worth $2,000,000 after purchasing an additional 142 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Illinois Tool Works by 1.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 30,269 shares of the industrial products company’s stock worth $7,172,000 after acquiring an additional 468 shares in the last quarter. Finally, Tredje AP fonden lifted its holdings in Illinois Tool Works by 131.5% during the second quarter. Tredje AP fonden now owns 17,782 shares of the industrial products company’s stock worth $4,214,000 after acquiring an additional 10,100 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 0.8 %

Shares of ITW stock opened at $255.83 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The business has a 50-day moving average price of $264.91 and a two-hundred day moving average price of $255.29. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a market cap of $75.55 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.55 earnings per share. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.35%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Analysts Set New Price Targets

ITW has been the topic of a number of recent research reports. Citigroup lowered their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Finally, Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus target price of $270.11.

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.