Arbor Trust Wealth Advisors LLC Acquires New Position in Illinois Tool Works Inc. (NYSE:ITW)

Arbor Trust Wealth Advisors LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 796 shares of the industrial products company’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in ITW. Fairscale Capital LLC bought a new stake in Illinois Tool Works during the second quarter valued at about $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 valued at $30,000 after purchasing an additional 106 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works in the third quarter valued at approximately $32,000. Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works in the 3rd quarter worth about $35,000. Finally, Financial Management Professionals Inc. grew its stake in Illinois Tool Works by 28.0% during the 3rd 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 in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Up 0.2 %

Shares of NYSE ITW opened at $256.50 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $75.74 billion, a PE ratio of 22.19, a PEG ratio of 3.55 and a beta of 1.11. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The stock has a fifty day simple moving average of $264.26 and a 200-day simple moving average of $255.45.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate 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 was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.55 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. 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 report on Thursday, October 31st. Barclays lowered their price objective on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group upped their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $270.11.

Illinois Tool Works 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.