Strategic Financial Concepts LLC Invests $2.71 Million in Illinois Tool Works Inc. (NYSE:ITW)

Strategic Financial Concepts LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 10,686 shares of the industrial products company's stock, valued at approximately $2,710,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp grew its position in shares of Illinois Tool Works by 1.2% in the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company's stock valued at $3,277,127,000 after purchasing an additional 149,272 shares during the period. Geode Capital Management LLC grew its position in shares of Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company's stock valued at $1,645,972,000 after purchasing an additional 167,422 shares during the period. Fisher Asset Management LLC lifted its stake in Illinois Tool Works by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company's stock valued at $877,234,000 after acquiring an additional 135,023 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Illinois Tool Works by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company's stock valued at $484,685,000 after acquiring an additional 32,656 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Illinois Tool Works by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company's stock valued at $460,533,000 after acquiring an additional 17,139 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 0.5 %

Shares of Illinois Tool Works stock traded down $1.25 on Friday, reaching $264.30. 918,393 shares of the company were exchanged, compared to its average volume of 965,335. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a 50-day moving average of $257.08 and a 200 day moving average of $258.29. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $77.57 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 4.52 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts' consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.41 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is owned by company insiders.

Analyst Ratings Changes

ITW has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price on the stock in a research note on Wednesday. Wells Fargo & Company cut their target price on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Robert W. Baird boosted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut their target price on 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. Finally, StockNews.com cut Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.