Wedgewood Investors Inc. PA Lowers Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Wedgewood Investors Inc. PA lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 28.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,275 shares of the industrial products company’s stock after selling 500 shares during the quarter. Wedgewood Investors Inc. PA’s holdings in Illinois Tool Works were worth $323,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Pensionfund Sabic grew its stake in shares of Illinois Tool Works by 37.0% in the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after acquiring an additional 2,000 shares in the last quarter. Franklin Resources Inc. grew its stake in Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after purchasing an additional 398,676 shares in the last quarter. Clark & Stuart Inc purchased a new stake in Illinois Tool Works during the 4th quarter worth about $1,729,000. Czech National Bank raised its position in Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after purchasing an additional 3,227 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Illinois Tool Works in the 3rd quarter valued at about $1,179,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.8 %

ITW opened at $257.98 on Friday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36. The stock has a market capitalization of $76.18 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. The business’s 50-day simple moving average is $258.13 and its 200-day simple moving average is $257.65.

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

Illinois Tool Works Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently weighed in on ITW. Wells Fargo & Company cut their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. 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 research report on Thursday, October 31st. Stifel Nicolaus decreased their price objective 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. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their target price for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, Citigroup cut their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.