Martel Wealth Advisors Inc Purchases New Position in Illinois Tool Works Inc. (NYSE:ITW)

Martel Wealth Advisors Inc acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,000 shares of the industrial products company’s stock, valued at approximately $761,000.

A number of other institutional investors also recently made changes to their positions in the company. Fairscale Capital LLC acquired a new stake in Illinois Tool Works in the 2nd quarter worth about $30,000. True Wealth Design LLC increased 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 worth $30,000 after purchasing an additional 106 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works in the third quarter valued at approximately $32,000. Ulland Investment Advisors LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works during the third quarter worth approximately $35,000. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Barclays cut their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their target price for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Wells Fargo & Company decreased their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Truist Financial upped their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $270.11.

Illinois Tool Works Stock Performance

NYSE ITW opened at $256.50 on Tuesday. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The stock has a market cap of $75.74 billion, a PE ratio of 22.19, a PEG ratio of 3.57 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The firm’s fifty day moving average price is $264.26 and its two-hundred day moving average price is $255.73.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

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.