Strategy Asset Managers LLC Boosts Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Strategy Asset Managers LLC increased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,426 shares of the industrial products company’s stock after purchasing an additional 79 shares during the period. Strategy Asset Managers LLC’s holdings in Illinois Tool Works were worth $374,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works in the 2nd quarter valued at about $30,000. Fairscale Capital LLC purchased a new stake in Illinois Tool Works during the second quarter valued at approximately $30,000. Catalyst Capital Advisors LLC bought a new stake in shares of Illinois Tool Works in the 3rd quarter valued at approximately $32,000. Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works in the 3rd quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. increased its position in shares of Illinois Tool Works by 261.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 115 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.0 %

NYSE ITW opened at $266.38 on Thursday. The company’s 50-day simple moving average is $261.33 and its two-hundred day simple moving average is $249.46. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $277.58. The company has a market capitalization of $78.66 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 4.19 and a beta of 1.10. 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 issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 21.66% and a return on equity of 97.06%. Illinois Tool Works’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.55 earnings per share. Equities analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Stifel Nicolaus boosted their target price on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. 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 research report on Thursday, October 31st. Finally, Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and an average target price of $257.30.

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.