Sugar Maple Asset Management LLC Makes New Investment in Illinois Tool Works Inc. (NYSE:ITW)

Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 111 shares of the industrial products company’s stock, valued at approximately $28,000.

A number of other institutional investors have also modified their holdings of the business. True Wealth Design LLC grew its holdings in shares of Illinois Tool Works by 1,060.0% during 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 bought a new position in Illinois Tool Works during the 3rd quarter worth $32,000. Ulland Investment Advisors LLC acquired a new stake in Illinois Tool Works in the fourth quarter worth $33,000. Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works during the third quarter valued at $35,000. Finally, Financial Management Professionals Inc. grew its position in shares of Illinois Tool Works by 28.0% during the third quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 47 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $261.31 on Wednesday. The company has a 50-day moving average of $263.91 and a 200-day moving average of $255.87. The firm has a market cap of $77.17 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 3.57 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping 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 firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period last year, the firm posted $2.55 earnings per share. The firm’s revenue for the quarter 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 Announces Dividend

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

Analyst Upgrades and Downgrades

ITW has been the topic of several recent research reports. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company decreased their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Jefferies Financial Group boosted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Robert W. Baird raised their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays reduced their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $270.11.

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.