Segment Wealth Management LLC Has $560,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Segment Wealth Management LLC lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,208 shares of the industrial products company’s stock after selling 241 shares during the period. Segment Wealth Management LLC’s holdings in Illinois Tool Works were worth $560,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Pensionfund Sabic raised its holdings in Illinois Tool Works by 37.0% in the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after acquiring an additional 2,000 shares in the last quarter. Franklin Resources Inc. raised its stake in 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. Clark & Stuart Inc bought a new stake in Illinois Tool Works during the fourth quarter worth about $1,729,000. Czech National Bank grew its stake in Illinois Tool Works by 5.9% during the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after buying an additional 3,227 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new position in Illinois Tool Works in the 3rd quarter valued at about $1,179,000. Institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

ITW has been the topic of several analyst reports. Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their target price 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. Citigroup lowered their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, Truist Financial boosted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $270.11.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $261.31 on Wednesday. The stock has a 50-day moving average price of $263.91 and a two-hundred day moving average price of $255.87. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a market capitalization of $77.17 billion, a PE ratio of 22.60, a P/E/G ratio of 3.57 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

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

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors 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 yield of 2.30%. Illinois Tool Works’s payout ratio is 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.