Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by ORG Wealth Partners LLC

ORG Wealth Partners LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 12.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,300 shares of the industrial products company’s stock after acquiring an additional 148 shares during the quarter. ORG Wealth Partners LLC’s holdings in Illinois Tool Works were worth $330,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in shares of Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after purchasing an additional 398,676 shares during the last quarter. Pensionfund Sabic increased its stake in Illinois Tool Works by 37.0% in the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after purchasing an additional 2,000 shares during the period. Wolverine Asset Management LLC purchased a new stake in shares of Illinois Tool Works in the third quarter valued at about $1,179,000. Daiwa Securities Group Inc. grew its holdings in shares of Illinois Tool Works by 11.8% during the third quarter. Daiwa Securities Group Inc. now owns 36,938 shares of the industrial products company’s stock worth $9,680,000 after buying an additional 3,903 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in Illinois Tool Works by 7.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock valued at $37,999,000 after acquiring an additional 9,825 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ITW shares. Robert W. Baird boosted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company cut 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. Jefferies Financial Group increased their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Citigroup lifted their price target on Illinois Tool Works from $266.00 to $279.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Finally, Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $268.00.

Illinois Tool Works Stock Down 1.0 %

NYSE:ITW traded down $2.42 on Friday, reaching $245.19. The stock had a trading volume of 352,804 shares, compared to its average volume of 750,239. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The stock has a market cap of $72.40 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 4.22 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. The company has a 50-day moving average of $266.27 and a 200 day moving average of $254.85.

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

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 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.