Schrum Private Wealth Management LLC Buys Shares of 1,700 Illinois Tool Works Inc. (NYSE:ITW)

Schrum Private Wealth Management LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,700 shares of the industrial products company's stock, valued at approximately $431,000.

A number of other large investors also recently added to or reduced their stakes in the business. Freestone Capital Holdings LLC purchased a new stake in Illinois Tool Works in the 4th quarter worth $243,000. Raymond James Financial Inc. bought a new stake in shares of Illinois Tool Works in the fourth quarter worth about $203,949,000. Cullen Frost Bankers Inc. increased its holdings in shares of Illinois Tool Works by 3.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 10,208 shares of the industrial products company's stock worth $2,588,000 after purchasing an additional 332 shares during the last quarter. Sound Financial Strategies Group LLC lifted its position in shares of Illinois Tool Works by 14.3% in the fourth quarter. Sound Financial Strategies Group LLC now owns 3,335 shares of the industrial products company's stock worth $846,000 after buying an additional 417 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in Illinois Tool Works by 44.9% during the fourth quarter. Proficio Capital Partners LLC now owns 1,730 shares of the industrial products company's stock valued at $439,000 after buying an additional 536 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 3.7 %

ITW traded up $9.78 during trading hours on Friday, reaching $274.89. 2,321,003 shares of the company's stock traded hands, compared to its average volume of 1,054,398. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a 50-day moving average price of $257.54 and a 200 day moving average price of $260.15. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The firm has a market capitalization of $80.68 billion, a PE ratio of 23.45, a PEG ratio of 4.56 and a beta of 1.13.

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Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (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, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced 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 2.18%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

Insider Activity

In other news, Director Ernest Scott Santi sold 70,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.88% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ITW. Barclays decreased their price objective on Illinois Tool Works from $265.00 to $262.00 and set an "equal weight" rating on the stock in a report on Friday, February 7th. JPMorgan Chase & Co. decreased their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective for the company in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. Finally, Evercore ISI lowered their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $269.30.

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.