Aspen Investment Management Inc Sells 45 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Aspen Investment Management Inc lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,191 shares of the industrial products company’s stock after selling 45 shares during the period. Aspen Investment Management Inc’s holdings in Illinois Tool Works were worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Illinois Tool Works by 66.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 23,188 shares of the industrial products company’s stock worth $6,077,000 after purchasing an additional 9,271 shares during the period. Foundations Investment Advisors LLC grew its position in Illinois Tool Works by 7.4% during the third quarter. Foundations Investment Advisors LLC now owns 1,525 shares of the industrial products company’s stock worth $400,000 after buying an additional 105 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Illinois Tool Works by 6.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,299 shares of the industrial products company’s stock worth $1,651,000 after acquiring an additional 367 shares during the last quarter. Stanley Laman Group Ltd. purchased a new stake in shares of Illinois Tool Works in the 3rd quarter valued at about $233,000. Finally, Private Advisor Group LLC boosted its position in shares of Illinois Tool Works by 3.5% during the 3rd quarter. Private Advisor Group LLC now owns 44,762 shares of the industrial products company’s stock valued at $11,731,000 after acquiring an additional 1,513 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ITW shares. Jefferies Financial Group upped their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Citigroup decreased their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Barclays reduced their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $269.30.

Illinois Tool Works Stock Up 0.5 %

ITW opened at $265.42 on Friday. The company has a market cap of $77.90 billion, a P/E ratio of 22.65, a P/E/G ratio of 4.49 and a beta of 1.11. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The business’s 50-day moving average price is $257.23 and its 200-day moving average price is $258.12. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, equities analysts expect that Illinois Tool Works Inc. will post 10.41 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.26%. Illinois Tool Works’s payout ratio is currently 51.19%.

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.