Perfromance Wealth Partners LLC Has $720,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Perfromance Wealth Partners LLC increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,841 shares of the industrial products company’s stock after buying an additional 229 shares during the quarter. Perfromance Wealth Partners LLC’s holdings in Illinois Tool Works were worth $720,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ITW. AE Wealth Management LLC boosted its holdings in shares of Illinois Tool Works by 32.8% during the second quarter. AE Wealth Management LLC now owns 3,490 shares of the industrial products company’s stock worth $827,000 after purchasing an additional 862 shares during the period. Pacer Advisors Inc. raised its position in Illinois Tool Works by 9.5% during the second quarter. Pacer Advisors Inc. now owns 35,325 shares of the industrial products company’s stock valued at $8,371,000 after acquiring an additional 3,071 shares in the last quarter. Sei Investments Co. raised its position in Illinois Tool Works by 21.3% during the second quarter. Sei Investments Co. now owns 71,084 shares of the industrial products company’s stock valued at $16,843,000 after acquiring an additional 12,496 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Illinois Tool Works by 71.7% during the second quarter. Thrivent Financial for Lutherans now owns 34,889 shares of the industrial products company’s stock valued at $8,267,000 after acquiring an additional 14,564 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its position in Illinois Tool Works by 0.6% during the second quarter. Epoch Investment Partners Inc. now owns 20,445 shares of the industrial products company’s stock valued at $4,845,000 after acquiring an additional 124 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Trading Up 1.9 %

Shares of Illinois Tool Works stock opened at $261.31 on Wednesday. The company’s fifty day simple moving average is $263.91 and its 200-day simple moving average is $255.87. The company has a market cap of $77.17 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 3.57 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. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced 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. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. 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, sell-side analysts expect that Illinois Tool Works Inc. will post 10.13 EPS 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 paid 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 2.30%. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Wells Fargo & Company cut 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 report on Tuesday, January 7th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday. Barclays dropped their price target on shares of 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. Finally, Truist Financial lifted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.