Sandy Cove Advisors LLC Increases Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Sandy Cove Advisors LLC lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,104 shares of the industrial products company’s stock after purchasing an additional 202 shares during the quarter. Sandy Cove Advisors LLC’s holdings in Illinois Tool Works were worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. lifted its stake in shares of Illinois Tool Works by 16.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 1,051 shares of the industrial products company’s stock worth $266,000 after acquiring an additional 146 shares during the period. Ameritas Advisory Services LLC grew its stake in Illinois Tool Works by 18.0% in the 4th quarter. Ameritas Advisory Services LLC now owns 5,069 shares of the industrial products company’s stock worth $1,285,000 after acquiring an additional 773 shares during the period. HB Wealth Management LLC boosted its holdings in shares of Illinois Tool Works by 1.7% during the fourth quarter. HB Wealth Management LLC now owns 20,201 shares of the industrial products company’s stock worth $5,122,000 after purchasing an additional 339 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Illinois Tool Works by 0.4% in the fourth quarter. Trust Co. of Vermont now owns 43,123 shares of the industrial products company’s stock valued at $10,934,000 after purchasing an additional 154 shares during the period. Finally, Premier Path Wealth Partners LLC lifted its holdings in shares of Illinois Tool Works by 8.2% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,193 shares of the industrial products company’s stock worth $556,000 after acquiring an additional 167 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.2 %

ITW stock opened at $256.50 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The business’s fifty day moving average price is $264.26 and its two-hundred day moving average price is $255.45. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The stock has a market capitalization of $75.74 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 3.55 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The firm 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%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.55 earnings per share. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared 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 of this dividend was Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.34%. Illinois Tool Works’s payout ratio is 51.90%.

Analyst Ratings Changes

Several analysts recently issued reports on ITW shares. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Wells Fargo & Company decreased their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Truist Financial upped their price target on shares of 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, Citigroup reduced their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Two 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 stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and an average price target 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.