Brady Martz Wealth Solutions LLC Acquires Shares of 3,121 Illinois Tool Works Inc. (NYSE:ITW)

Brady Martz Wealth Solutions LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, Holdings Channel.com reports. The fund bought 3,121 shares of the industrial products company’s stock, valued at approximately $789,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV boosted its stake in Illinois Tool Works by 1.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 30,269 shares of the industrial products company’s stock worth $7,172,000 after acquiring an additional 468 shares in the last quarter. Intech Investment Management LLC boosted its stake in Illinois Tool Works by 27.5% in the 2nd quarter. Intech Investment Management LLC now owns 26,522 shares of the industrial products company’s stock worth $6,285,000 after purchasing an additional 5,716 shares in the last quarter. Brighton Jones LLC raised its holdings in Illinois Tool Works by 8.2% in the second quarter. Brighton Jones LLC now owns 4,845 shares of the industrial products company’s stock worth $1,148,000 after buying an additional 368 shares during the last quarter. Ieq Capital LLC increased its position in shares of Illinois Tool Works by 3.1% during the second quarter. Ieq Capital LLC now owns 21,140 shares of the industrial products company’s stock valued at $5,009,000 after acquiring an additional 638 shares in the last quarter. Finally, Callan Capital LLC boosted its stake in Illinois Tool Works by 8.9% during the 2nd quarter. Callan Capital LLC now owns 2,294 shares of the industrial products company’s stock valued at $544,000 after purchasing an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $256.50 on Friday. The company has a market capitalization of $75.74 billion, a P/E ratio of 22.19, a P/E/G ratio of 3.55 and a beta of 1.11. 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 firm’s 50 day simple moving average is $264.26 and its two-hundred day simple moving average is $255.45. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13.

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

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ITW shares. Wells Fargo & Company decreased their price target on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Stifel Nicolaus lifted their target price 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. Barclays lowered their price target on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird increased their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.