Kingswood Wealth Advisors LLC Invests $286,000 in Illinois Tool Works Inc. (NYSE:ITW)
by Kim Johansen · The Markets Daily
Kingswood Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,241 shares of the industrial products company’s stock, valued at approximately $286,000.
Other large investors have also modified their holdings of the company. GoalVest Advisory LLC bought a new stake in shares of Illinois Tool Works during the 2nd quarter worth $25,000. Northwest Capital Management Inc purchased a new stake in shares of Illinois Tool Works in the second quarter valued at $28,000. Miller Wealth Advisors LLC purchased a new stake in shares of Illinois Tool Works in the second quarter valued at $31,000. Quarry LP lifted its holdings in shares of Illinois Tool Works by 52.7% in the first quarter. Quarry LP now owns 142 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 49 shares in the last quarter. Finally, Union Savings Bank purchased a new stake in shares of Illinois Tool Works in the second quarter valued at $39,000. 79.56% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Barclays reduced their target price on Illinois Tool Works from $213.00 to $198.00 in a report on Thursday, September 7th. Stifel Nicolaus increased their target price on Illinois Tool Works from $236.00 to $238.00 and gave the company a “hold” rating in a report on Tuesday, December 19th. Wells Fargo & Company increased their target price on Illinois Tool Works from $220.00 to $277.00 and gave the company an “equal weight” rating in a report on Tuesday, December 19th. Citigroup increased their price objective on Illinois Tool Works from $244.00 to $256.00 and gave the stock a “neutral” rating in a report on Monday, December 11th. Finally, StockNews.com started coverage on Illinois Tool Works in a report on Thursday, October 5th. They set a “hold” rating for the company. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $242.90.
Check Out Our Latest Stock Analysis on Illinois Tool Works
Illinois Tool Works Trading Down 0.9 %
Illinois Tool Works stock opened at $258.30 on Thursday. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.58 and a quick ratio of 1.13. The company has a market capitalization of $77.72 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 4.90 and a beta of 1.15. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $265.00. The company’s fifty day moving average price is $244.69 and its two-hundred day moving average price is $242.75.
Illinois Tool Works (NYSE:ITW – Get Free Report) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.46 by $0.09. The firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.10 billion. Illinois Tool Works had a net margin of 19.55% and a return on equity of 95.68%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $2.35 earnings per share. On average, analysts forecast that Illinois Tool Works Inc. will post 9.68 earnings per share for the current fiscal year.
Illinois Tool Works Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, December 29th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio is currently 54.32%.
Illinois Tool Works Profile
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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