Ballentine Partners LLC Grows Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Ballentine Partners LLC increased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 6.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,113 shares of the industrial products company’s stock after acquiring an additional 732 shares during the quarter. Ballentine Partners LLC’s holdings in Illinois Tool Works were worth $3,071,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Fairscale Capital LLC bought a new position in shares of Illinois Tool Works in the second quarter worth about $30,000. True Wealth Design LLC raised its stake in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares during the period. Catalyst Capital Advisors LLC purchased a new position in Illinois Tool Works during the third quarter valued at approximately $32,000. Ulland Investment Advisors LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works in the third quarter worth $35,000. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Stifel Nicolaus boosted their price target on Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Robert W. Baird increased their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Citigroup lowered their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $270.11.

Illinois Tool Works Trading Up 0.2 %

ITW stock opened at $256.50 on Tuesday. The firm has a market cap 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. The firm has a fifty day moving average price of $264.26 and a 200 day moving average price of $255.73. 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 Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13.

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

Illinois Tool Works Announces Dividend

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