Crestwood Advisors Group LLC Acquires 345 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Crestwood Advisors Group LLC raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,007 shares of the industrial products company’s stock after purchasing an additional 345 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Illinois Tool Works were worth $1,016,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works during the fourth quarter valued at approximately $28,000. True Wealth Design LLC grew its position in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works during the 3rd quarter valued at $32,000. Ulland Investment Advisors LLC bought a new position in shares of Illinois Tool Works during the 4th quarter valued at $33,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter worth $37,000. Institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ITW shares. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a report on Wednesday, February 19th. Jefferies Financial Group increased their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Evercore ISI dropped their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a report on Wednesday, February 19th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Barclays dropped their price target on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $269.30.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Down 1.2 %

Shares of ITW stock opened at $261.24 on Tuesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company’s fifty day moving average price is $256.91 and its 200-day moving average price is $258.73. The company has a market capitalization of $76.67 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 4.56 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS 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%. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.30%. Illinois Tool Works’s payout ratio is 51.19%.

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.