Illinois Tool Works Inc. (NYSE:ITW) Stake Lowered by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,780 shares of the industrial products company’s stock after selling 125 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Illinois Tool Works were worth $451,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Fairscale Capital LLC bought a new position in shares of Illinois Tool Works during the second quarter valued at approximately $30,000. True Wealth Design LLC boosted its position in shares of Illinois Tool Works by 1,060.0% during 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 acquired a new position in shares of Illinois Tool Works during the third quarter worth approximately $32,000. Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works during the third quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Illinois Tool Works by 261.4% during the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after buying an additional 115 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Price Performance

NYSE ITW opened at $245.01 on Friday. The stock has a market capitalization of $72.35 billion, a P/E ratio of 21.19, a P/E/G ratio of 4.22 and a beta of 1.11. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The business’s fifty day moving average is $265.91 and its two-hundred day moving average is $254.87. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.55 earnings per share. On average, research analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company 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 2.45%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.90%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Truist Financial boosted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus upped their target price on Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Finally, Citigroup upped their target price on Illinois Tool Works from $266.00 to $279.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $271.67.

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.