Mitchell & Pahl Private Wealth LLC Raises Stake in Illinois Tool Works Inc. (NYSE:ITW)

Mitchell & Pahl Private Wealth LLC lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 4.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,885 shares of the industrial products company’s stock after acquiring an additional 360 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Illinois Tool Works were worth $1,999,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Ballentine Partners LLC raised its position in Illinois Tool Works by 6.4% in the 4th quarter. Ballentine Partners LLC now owns 12,113 shares of the industrial products company’s stock worth $3,071,000 after purchasing an additional 732 shares during the period. Martel Wealth Advisors Inc bought a new position in shares of Illinois Tool Works during the fourth quarter valued at about $761,000. Ulland Investment Advisors LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $33,000. Wealthquest Corp purchased a new stake in Illinois Tool Works during the 4th quarter valued at about $260,000. Finally, Mitchell Mcleod Pugh & Williams Inc. grew its position in Illinois Tool Works by 4.3% during the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,683 shares of the industrial products company’s stock worth $427,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Jefferies Financial Group increased their price target 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 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 report on Tuesday, January 7th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Robert W. Baird boosted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $270.11.

Illinois Tool Works Stock Performance

Shares of ITW opened at $256.50 on Tuesday. The company has a 50-day simple moving average of $264.26 and a two-hundred day simple moving average of $255.73. 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 firm has a market capitalization of $75.74 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 3.57 and a beta of 1.11. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results 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 company 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 firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.55 EPS. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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