Burney Co. Has $4.41 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Burney Co. lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,392 shares of the industrial products company’s stock after selling 74 shares during the quarter. Burney Co.’s holdings in Illinois Tool Works were worth $4,410,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ITW. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works during the 2nd quarter worth about $30,000. True Wealth Design LLC increased its stake in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works during the third quarter valued at about $32,000. Northwest Investment Counselors LLC bought a new position in Illinois Tool Works during the third quarter valued at about $35,000. Finally, Financial Management Professionals Inc. increased its stake in Illinois Tool Works by 28.0% during the third quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.4 %

NYSE ITW opened at $253.99 on Thursday. The firm has a market cap of $75.00 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 4.22 and a beta of 1.11. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The stock’s 50 day simple moving average is $265.34 and its 200 day simple moving average is $255.30. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.55 EPS. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed 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 2.36%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is 51.90%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ITW. Stifel Nicolaus boosted their price target on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Wells Fargo & Company lowered their price target on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Citigroup lowered their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday. Truist Financial upped their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Robert W. Baird upped their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently 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.