Cooper Financial Group Has $268,000 Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Cooper Financial Group boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,055 shares of the industrial products company’s stock after buying an additional 97 shares during the period. Cooper Financial Group’s holdings in Illinois Tool Works were worth $268,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC raised its holdings in shares of 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. Fairscale Capital LLC purchased a new position in Illinois Tool Works during the 2nd quarter worth approximately $30,000. Catalyst Capital Advisors LLC acquired a new stake in Illinois Tool Works during the 3rd quarter valued at $32,000. Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works in the third quarter valued at $35,000. Finally, Financial Management Professionals Inc. boosted its position in shares of Illinois Tool Works by 28.0% in the third quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock worth $56,000 after buying an additional 47 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ITW. Stifel Nicolaus upped their price target 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. Truist Financial increased their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their target price for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company lowered their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $270.11.

Illinois Tool Works Trading Up 1.2 %

Illinois Tool Works stock opened at $252.77 on Wednesday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company’s fifty 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. The company has a market capitalization of $74.64 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 4.22 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the firm posted $2.55 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

Illinois Tool Works 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.