Range Financial Group LLC Buys 2,690 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Range Financial Group LLC lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 168.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,288 shares of the industrial products company's stock after acquiring an additional 2,690 shares during the period. Range Financial Group LLC's holdings in Illinois Tool Works were worth $1,087,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ITW. Fairscale Capital LLC bought a new position in shares of Illinois Tool Works during the 2nd quarter worth about $30,000. True Wealth Design LLC boosted its holdings in 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 worth $30,000 after acquiring an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Illinois Tool Works in the third quarter valued at approximately $32,000. Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works during the third quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. increased its holdings 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 valued at $38,000 after acquiring an additional 115 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on ITW shares. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $262.00 to $268.00 and gave the company a "hold" rating in a research report on Wednesday, December 11th. Evercore ISI cut shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and lifted their price objective for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. StockNews.com upgraded shares of Illinois Tool Works from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Citigroup lifted their price target on Illinois Tool Works from $266.00 to $279.00 and gave the company a "neutral" rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company lowered their price objective on Illinois Tool Works from $260.00 to $250.00 and set an "underweight" rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $268.50.

Illinois Tool Works Price Performance

Shares of ITW stock traded down $1.57 on Tuesday, reaching $248.79. The company's stock had a trading volume of 685,393 shares, compared to its average volume of 772,773. The company has a market capitalization of $73.47 billion, a P/E ratio of 21.52, a PEG ratio of 4.22 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The stock's 50 day simple moving average is $266.87 and its 200-day simple moving average is $254.95. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share 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 return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works's quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.55 EPS. As a group, equities analysts predict 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 declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.41%. Illinois Tool Works's payout ratio is 51.90%.

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.