Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Principal Securities Inc.

Principal Securities Inc. boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 25.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,695 shares of the industrial products company’s stock after acquiring an additional 1,377 shares during the quarter. Principal Securities Inc.’s holdings in Illinois Tool Works were worth $1,698,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Palumbo Wealth Management LLC increased its position in shares of Illinois Tool Works by 13.4% during the 4th quarter. Palumbo Wealth Management LLC now owns 16,081 shares of the industrial products company’s stock worth $4,078,000 after purchasing an additional 1,902 shares during the last quarter. Roxbury Financial LLC purchased a new position in Illinois Tool Works during the fourth quarter worth about $615,000. BXM Wealth LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $678,000. Nations Financial Group Inc. IA ADV raised its stake in shares of Illinois Tool Works by 3.4% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 14,000 shares of the industrial products company’s stock valued at $3,550,000 after acquiring an additional 466 shares during the period. Finally, Spinnaker Trust lifted its holdings in shares of Illinois Tool Works by 4.0% in the 4th quarter. Spinnaker Trust now owns 4,221 shares of the industrial products company’s stock worth $1,070,000 after acquiring an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ITW shares. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Stifel Nicolaus dropped their price objective on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Citigroup lowered their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, Wells Fargo & Company cut their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Price Performance

ITW stock opened at $262.03 on Wednesday. The business’s 50-day moving average is $257.80 and its two-hundred day moving average is $257.90. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97. The firm has a market capitalization of $77.38 billion, a P/E ratio of 22.36, a P/E/G ratio of 4.79 and a beta of 1.11. 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 issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Analysts anticipate that Illinois Tool Works Inc. will post 10.38 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders 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 dividend yield of 2.29%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 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.