Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Strategic Financial Services Inc.

Strategic Financial Services Inc. boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 11.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,446 shares of the industrial products company’s stock after acquiring an additional 150 shares during the quarter. Strategic Financial Services Inc.’s holdings in Illinois Tool Works were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Atlantic Private Wealth LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at $32,000. Generali Investments Management Co LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $4,268,000. Vinva Investment Management Ltd grew its stake in Illinois Tool Works by 7.6% during the 4th quarter. Vinva Investment Management Ltd now owns 19,842 shares of the industrial products company’s stock worth $5,056,000 after buying an additional 1,410 shares during the last quarter. Bank of Marin increased its position in Illinois Tool Works by 10.9% in the 4th quarter. Bank of Marin now owns 1,523 shares of the industrial products company’s stock valued at $386,000 after acquiring an additional 150 shares during the period. Finally, Compass Ion Advisors LLC lifted its position in Illinois Tool Works by 2.6% in the fourth quarter. Compass Ion Advisors LLC now owns 3,561 shares of the industrial products company’s stock worth $903,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $256.46 on Thursday. 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 firm has a fifty day simple moving average of $258.24 and a two-hundred day simple moving average of $260.45. The firm has a market capitalization of $75.27 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. 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) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares in the company, valued at $13,698,667.50. This represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup lowered their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. cut their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Barclays set a $260.00 price objective on shares of Illinois Tool Works and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Evercore ISI dropped 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 research note on Wednesday, February 19th. Finally, Stifel Nicolaus decreased their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $269.10.

About Illinois Tool Works

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.