Fiduciary Family Office LLC Buys Shares of 2,257 Illinois Tool Works Inc. (NYSE:ITW)

Fiduciary Family Office LLC acquired a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,257 shares of the industrial products company's stock, valued at approximately $591,000.

Several other large investors have also recently made changes to their positions in the company. Fairscale Capital LLC acquired a new stake in Illinois Tool Works in the 2nd quarter valued at $30,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works in the third quarter valued at about $32,000. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works during the second quarter worth about $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth about $35,000. Finally, Meeder Asset Management Inc. lifted its stake in Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company's stock valued at $38,000 after buying an additional 115 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 1.0 %

Shares of Illinois Tool Works stock traded up $2.55 during trading hours on Tuesday, reaching $266.43. 784,562 shares of the company were exchanged, compared to its average volume of 1,062,178. The firm has a market cap of $78.68 billion, a PE ratio of 22.83, a PEG ratio of 3.84 and a beta of 1.10. The stock's fifty day moving average is $255.90 and its 200 day moving average is $247.50. Illinois Tool Works Inc. has a 1 year low of $227.66 and a 1 year high of $271.15. 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 - Get Free Report) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the business posted $2.55 EPS. The company's revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.75 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ITW. Argus raised Illinois Tool Works to a "strong-buy" rating in a research note on Wednesday, July 31st. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on Illinois Tool Works from $267.00 to $270.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Robert W. Baird boosted their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, Barclays raised their target price on Illinois Tool Works from $215.00 to $230.00 and gave the stock an "underweight" rating in a research note on Friday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $256.40.

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.