Fiduciary Financial Group LLC Boosts Position in Illinois Tool Works Inc. (NYSE:ITW)

Fiduciary Financial Group LLC boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,400 shares of the industrial products company’s stock after buying an additional 92 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Illinois Tool Works were worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of ITW. Fairscale Capital LLC bought a new position in shares of Illinois Tool Works during the second quarter valued at approximately $30,000. True Wealth Design LLC raised its holdings in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Illinois Tool Works during the third quarter valued at approximately $32,000. Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works during the third quarter valued at approximately $35,000. Finally, Financial Management Professionals Inc. raised its holdings in shares of Illinois Tool Works by 28.0% during the third quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 1.2 %

Shares of NYSE ITW opened at $252.77 on Wednesday. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The business has a fifty day simple moving average of $265.34 and a two-hundred day simple moving average of $255.30. The firm has a market cap of $74.64 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 4.22 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.55 EPS. Analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were issued a $1.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.37%. Illinois Tool Works’s payout ratio is 51.90%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ITW. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their target price for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Jefferies Financial Group raised their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Tuesday. Citigroup lowered their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Robert W. Baird increased their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $270.11.

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.