Valmark Advisers Inc. Has $2.34 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Valmark Advisers Inc. raised its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,240 shares of the industrial products company’s stock after purchasing an additional 47 shares during the quarter. Valmark Advisers Inc.’s holdings in Illinois Tool Works were worth $2,343,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at $28,000. True Wealth Design LLC grew its holdings in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter valued at $32,000. Ulland Investment Advisors LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at $33,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter valued at $35,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ITW shares. Stifel Nicolaus lowered their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. 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 report on Friday, December 6th. Truist Financial upped their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Robert W. Baird upped their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $271.00.

Illinois Tool Works Stock Down 0.8 %

Illinois Tool Works stock opened at $257.98 on Monday. The firm has a market cap of $76.18 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 4.79 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The firm has a fifty day moving average price of $258.13 and a two-hundred day moving average price of $257.71.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.38 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.33%. Illinois Tool Works’s dividend 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.