Roxbury Financial LLC Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

Roxbury Financial LLC purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,215 shares of the industrial products company’s stock, valued at approximately $615,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BXM Wealth LLC acquired a new position in Illinois Tool Works in the 4th quarter valued at about $678,000. Nations Financial Group Inc. IA ADV increased its position in Illinois Tool Works by 3.4% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 14,000 shares of the industrial products company’s stock valued at $3,550,000 after acquiring an additional 466 shares during the period. Spinnaker Trust increased its position in Illinois Tool Works by 4.0% in the 4th quarter. Spinnaker Trust now owns 4,221 shares of the industrial products company’s stock valued at $1,070,000 after acquiring an additional 161 shares during the period. WASHINGTON TRUST Co increased its position in Illinois Tool Works by 25.2% in the 4th quarter. WASHINGTON TRUST Co now owns 1,985 shares of the industrial products company’s stock valued at $503,000 after acquiring an additional 400 shares during the period. Finally, PUREfi Wealth LLC acquired a new position in Illinois Tool Works in the 4th quarter valued at about $218,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

ITW opened at $257.98 on Friday. The stock has a market cap of $76.18 billion, a P/E ratio of 22.01, a P/E/G ratio of 4.79 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $258.44 and its 200 day simple moving average is $257.58. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping 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%. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.38 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced 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 2.33%. Illinois Tool Works’s payout ratio is currently 51.19%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ITW. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays dropped their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Truist Financial boosted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus dropped their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $271.00.

Illinois Tool Works 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.