Guinness Atkinson Asset Management Inc Has $1.13 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Guinness Atkinson Asset Management Inc raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 23.3% in the 4th quarter, HoldingsChannel reports. The fund owned 4,470 shares of the industrial products company’s stock after buying an additional 845 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Illinois Tool Works were worth $1,133,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in shares of 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. International Assets Investment Management LLC boosted its position in Illinois Tool Works by 26,088.4% in the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after buying an additional 322,192 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after buying an additional 308,935 shares during the period. AXA S.A. raised its position in shares of Illinois Tool Works by 242.3% during the second quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock worth $80,888,000 after acquiring an additional 241,618 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after acquiring an additional 167,422 shares during the period. 79.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Robert W. Baird lifted their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Truist Financial increased their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Barclays lowered their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Jefferies Financial Group increased their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $270.11.

Illinois Tool Works Stock Up 0.2 %

Shares of Illinois Tool Works stock opened at $256.50 on Monday. The company has a market capitalization of $75.74 billion, a P/E ratio of 22.19, a price-to-earnings-growth 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 business has a 50-day moving average of $264.26 and a two-hundred day moving average of $255.59. 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 earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the company posted $2.55 EPS. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

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