MOKAN Wealth Management Inc. Purchases Shares of 4,323 Illinois Tool Works Inc. (NYSE:ITW)

MOKAN Wealth Management Inc. purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,323 shares of the industrial products company’s stock, valued at approximately $1,096,000.

A number of other institutional investors have also recently added to or reduced their stakes in ITW. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works during the fourth quarter valued at about $28,000. True Wealth Design LLC grew its position in 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 valued at $30,000 after acquiring an additional 106 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works in the third quarter worth about $32,000. Ulland Investment Advisors LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth about $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works in the third quarter worth about $35,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.8 %

Shares of NYSE ITW opened at $257.98 on Friday. The company has a market cap of $76.18 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.90. The stock’s 50 day simple moving average is $258.13 and its 200 day simple moving average is $257.65.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities research analysts expect that Illinois Tool Works Inc. will post 10.38 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.33%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays decreased their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Robert W. Baird upped their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group upped their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus cut their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $271.00.

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.