180 Wealth Advisors LLC Sells 45 Shares of Illinois Tool Works Inc. (NYSE:ITW)

180 Wealth Advisors LLC lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,268 shares of the industrial products company’s stock after selling 45 shares during the period. 180 Wealth Advisors LLC’s holdings in Illinois Tool Works were worth $322,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in shares of Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Illinois Tool Works by 26,088.4% in the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after purchasing an additional 322,192 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Illinois Tool Works by 318.9% in the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after purchasing an additional 308,935 shares in the last quarter. AXA S.A. increased its holdings in shares of Illinois Tool Works by 242.3% in the second quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock valued at $80,888,000 after purchasing an additional 241,618 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after purchasing an additional 167,422 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.4 %

Shares of NYSE:ITW opened at $253.99 on Thursday. The company’s 50-day moving average price is $265.34 and its two-hundred day moving average price is $255.30. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The stock has a market capitalization of $75.00 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 4.22 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.55 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were issued a $1.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.36%. Illinois Tool Works’s payout ratio is 51.90%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup lowered their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their target price for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Truist Financial lifted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their target price on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Two investment 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $270.11.

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.