Savant Capital LLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 27.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,936 shares of the industrial products company’s stock after selling 4,408 shares during the period. Savant Capital LLC’s holdings in Illinois Tool Works were worth $2,940,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Meridian Wealth Management LLC boosted its position in Illinois Tool Works by 1.3% in the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock valued at $694,000 after buying an additional 37 shares during the period. Mayflower Financial Advisors LLC boosted its position in Illinois Tool Works by 3.8% in the 4th quarter. Mayflower Financial Advisors LLC now owns 1,065 shares of the industrial products company’s stock valued at $262,000 after buying an additional 39 shares during the period. Revisor Wealth Management LLC boosted its position in Illinois Tool Works by 1.4% in the 4th quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company’s stock valued at $734,000 after buying an additional 39 shares during the period. Concord Asset Management LLC VA boosted its position in Illinois Tool Works by 1.1% in the 4th quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company’s stock valued at $884,000 after buying an additional 39 shares during the period. Finally, Planning Alternatives Ltd. ADV boosted its position in Illinois Tool Works by 2.6% in the 4th quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company’s stock valued at $384,000 after buying an additional 39 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.
Illinois Tool Works Price Performance
Illinois Tool Works stock opened at $247.11 on Friday. The company has a fifty day simple moving average of $259.94 and a 200-day simple moving average of $262.28. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. The stock has a market cap of $71.09 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 4.25 and a beta of 1.04.
Illinois Tool Works Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.80%.
Wall Street Analyst Weigh In
ITW has been the subject of several recent research reports. Barclays decreased their price target on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating for the company in a research report on Wednesday, April 1st. Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Monday, May 4th. Robert W. Baird set a $278.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, February 4th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Finally, UBS Group reaffirmed a “neutral” rating and set a $285.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and an average target price of $271.92.
View Our Latest Stock Report on ITW
About Illinois Tool Works
Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.
The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.
Recommended Stories
- Five stocks we like better than Illinois Tool Works
- Costco’s Strong Quarter Still Leaves Investors With a Valuation Problem
- These 3 Software Stocks Are Buying Back Shares Hand Over Fist
- Gap Inc. Cuts Sales Outlook After Q1 Miss, Shares Drop 17%
- MongoDB’s AI Advantage Is Starting to Show Up in Results
Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW – Free Report).
Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.
