Cordatus Wealth Management LLC Has $3.05 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Cordatus Wealth Management LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,040 shares of the industrial products company’s stock after acquiring an additional 99 shares during the quarter. Cordatus Wealth Management LLC’s holdings in Illinois Tool Works were worth $3,053,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ITW. State Street Corp lifted its stake in shares of Illinois Tool Works by 1.2% in the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after purchasing an additional 149,272 shares during the period. Geode Capital Management LLC lifted its stake in Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after buying an additional 167,422 shares during the period. Fisher Asset Management LLC boosted its holdings in Illinois Tool Works by 4.2% during the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock worth $877,234,000 after buying an additional 135,023 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Illinois Tool Works by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock worth $484,685,000 after buying an additional 32,656 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of Illinois Tool Works by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company’s stock valued at $460,533,000 after acquiring an additional 17,139 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

ITW has been the topic of several recent analyst reports. Stifel Nicolaus reduced their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target on the stock in a research report on Wednesday. Citigroup dropped their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company decreased their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Finally, Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $269.30.

Illinois Tool Works Stock Up 0.5 %

NYSE:ITW opened at $265.42 on Friday. The stock has a 50-day simple moving average of $257.23 and a 200 day simple moving average of $258.12. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The company has a market cap of $77.90 billion, a PE ratio of 22.65, a PEG ratio of 4.52 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.41 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.26%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

About Illinois Tool Works

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.