Spinnaker Trust Buys 161 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Spinnaker Trust raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.0% in the fourth quarter, Holdings Channel reports. The fund owned 4,221 shares of the industrial products company’s stock after purchasing an additional 161 shares during the quarter. Spinnaker Trust’s holdings in Illinois Tool Works were worth $1,070,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works in the 4th quarter valued at approximately $28,000. True Wealth Design LLC raised its holdings in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the 3rd quarter valued at approximately $32,000. Ulland Investment Advisors LLC bought a new position in Illinois Tool Works in the 4th quarter valued at approximately $33,000. Finally, Northwest Investment Counselors LLC bought a new position in Illinois Tool Works in the 3rd quarter valued at approximately $35,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $257.98 on Friday. The company has a market cap of $76.18 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a 50 day moving average of $258.44 and a 200-day moving average of $257.58.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.38 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.33%. Illinois Tool Works’s payout ratio is currently 51.19%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of research reports. Evercore ISI lowered shares of 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 report on Wednesday, November 13th. JPMorgan Chase & Co. decreased their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Robert W. Baird increased their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group increased their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Finally, Stifel Nicolaus decreased their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Company 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.