Meridian Financial LLC Sells 150 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Meridian Financial LLC decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 15.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 835 shares of the industrial products company’s stock after selling 150 shares during the period. Meridian Financial LLC’s holdings in Illinois Tool Works were worth $212,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ITW. Fairscale Capital LLC bought a new position in Illinois Tool Works during the second quarter worth about $30,000. True Wealth Design LLC lifted its holdings in shares of Illinois Tool Works by 1,060.0% during the 3rd 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 in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works in the 3rd quarter valued at approximately $32,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works during the 3rd quarter worth approximately $35,000. Finally, Financial Management Professionals Inc. increased its stake in Illinois Tool Works by 28.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price target for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Truist Financial upped their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Barclays dropped their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $270.11.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $256.50 on Friday. The stock has a market cap of $75.74 billion, a P/E ratio of 22.19, a P/E/G ratio of 3.55 and a beta of 1.11. The company has a fifty day moving average price of $264.26 and a two-hundred day moving average price of $255.45. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company posted $2.55 earnings per share. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

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.