International Assets Investment Management LLC Has $362,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

International Assets Investment Management LLC decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 99.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,448 shares of the industrial products company’s stock after selling 321,979 shares during the period. International Assets Investment Management LLC’s holdings in Illinois Tool Works were worth $362,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Fairscale Capital LLC bought a new position in Illinois Tool Works during the second quarter worth $30,000. True Wealth Design LLC boosted its stake in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works in the 3rd quarter worth approximately $32,000. Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works during the 3rd quarter worth about $35,000. Finally, Meeder Asset Management Inc. lifted its holdings in Illinois Tool Works by 261.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after buying an additional 115 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ITW shares. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Wells Fargo & Company cut their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird lifted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays lowered their price target on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Truist Financial boosted 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $271.67.

Illinois Tool Works Stock Down 1.1 %

Shares of NYSE ITW opened at $245.01 on Friday. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The company’s 50 day moving average price is $265.91 and its 200-day moving average price is $254.99. The company has a market capitalization of $72.35 billion, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 4.22 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business posted $2.55 EPS. Equities analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.45%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

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.