927 Shares in Illinois Tool Works Inc. (NYSE:ITW) Bought by Morningstar Investment Management LLC

Morningstar Investment Management LLC acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 927 shares of the industrial products company’s stock, valued at approximately $204,000.

A number of other large investors have also bought and sold shares of the business. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at $33,000. Red Tortoise LLC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at $33,000. Standard Family Office LLC bought a new position in Illinois Tool Works during the third quarter worth $39,000. Old North State Trust LLC bought a new stake in shares of Illinois Tool Works in the third quarter valued at about $42,000. Finally, Riverpoint Wealth Management Holdings LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at $45,000. 79.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wells Fargo & Company dropped their target price on Illinois Tool Works from $250.00 to $227.00 and set an “equal weight” rating for the company in a research report on Thursday, April 13th. Morgan Stanley boosted their price objective on Illinois Tool Works from $174.00 to $223.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 7th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Illinois Tool Works from $183.00 to $181.00 and set a “sell” rating on the stock in a research note on Wednesday, April 12th. 3M reiterated a “maintains” rating on shares of Illinois Tool Works in a research report on Wednesday, May 3rd. Finally, StockNews.com started coverage on shares of Illinois Tool Works in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $228.21.

Illinois Tool Works Stock Performance

ITW traded up $2.65 during trading on Friday, reaching $224.54. The company’s stock had a trading volume of 208,153 shares, compared to its average volume of 1,085,649. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.84 and a current ratio of 1.20. The company’s fifty day moving average price is $232.13 and its 200-day moving average price is $229.93. Illinois Tool Works Inc. has a 52-week low of $173.52 and a 52-week high of $253.37. The company has a market capitalization of $68.24 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 3.35 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.10. Illinois Tool Works had a return on equity of 92.13% and a net margin of 19.27%. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter in the previous year, the company posted $2.11 EPS. The business’s revenue was up 2.0% on a year-over-year basis. On average, equities analysts forecast that Illinois Tool Works Inc. will post 9.65 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 13th. Investors of record on Friday, June 30th will be issued a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, June 29th. Illinois Tool Works’s payout ratio is currently 52.40%.

About Illinois Tool Works

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Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.