City Holding Co. Increases Holdings in Illinois Tool Works Inc. (NYSE:ITW)

City Holding Co. boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,678 shares of the industrial products company’s stock after buying an additional 75 shares during the quarter. City Holding Co.’s holdings in Illinois Tool Works were worth $2,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Fairscale Capital LLC bought a new position in shares of Illinois Tool Works during the 2nd quarter valued at $30,000. True Wealth Design LLC increased its holdings in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of Illinois Tool Works in the 3rd quarter valued at about $32,000. Northwest Investment Counselors LLC bought a new position in Illinois Tool Works during the 3rd quarter worth approximately $35,000. Finally, Financial Management Professionals Inc. increased its stake in Illinois Tool Works by 28.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 47 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ITW. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Wells Fargo & Company decreased their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Citigroup lowered their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Finally, Jefferies Financial Group lifted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $270.11.

Illinois Tool Works Stock Up 0.2 %

NYSE:ITW opened at $256.50 on Monday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The firm has a market cap 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. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The firm has a 50-day simple moving average of $264.26 and a two-hundred day simple moving average of $255.59.

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 for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The company 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 firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.55 EPS. Analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were paid 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 currently 51.90%.

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.