Stratos Investment Management LLC Buys 118 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Stratos Investment Management LLC increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,784 shares of the industrial products company’s stock after purchasing an additional 118 shares during the quarter. Stratos Investment Management LLC’s holdings in Illinois Tool Works were worth $992,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in Illinois Tool Works during the 3rd quarter worth $216,000. Stratos Wealth Partners LTD. grew its stake in shares of Illinois Tool Works by 5.8% during the third quarter. Stratos Wealth Partners LTD. now owns 25,677 shares of the industrial products company’s stock worth $6,729,000 after purchasing an additional 1,413 shares during the period. Aaron Wealth Advisors LLC increased its holdings in Illinois Tool Works by 15.9% in the third quarter. Aaron Wealth Advisors LLC now owns 2,896 shares of the industrial products company’s stock valued at $759,000 after purchasing an additional 398 shares during the last quarter. Claro Advisors LLC lifted its stake in Illinois Tool Works by 358.0% in the third quarter. Claro Advisors LLC now owns 15,586 shares of the industrial products company’s stock valued at $4,085,000 after buying an additional 12,183 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in Illinois Tool Works by 11.2% during the third quarter. V Square Quantitative Management LLC now owns 5,900 shares of the industrial products company’s stock worth $1,546,000 after buying an additional 593 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ITW shares. Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday. Evercore ISI lowered their price objective on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. JPMorgan Chase & Co. lifted their target price on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Barclays lowered their price target on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a report on Wednesday, July 31st. Finally, StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $255.44.

Illinois Tool Works Price Performance

Shares of ITW opened at $261.03 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The stock has a market capitalization of $77.89 billion, a P/E ratio of 25.74, a P/E/G ratio of 4.10 and a beta of 1.10. The company has a 50 day moving average of $252.37 and a 200-day moving average of $247.56.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the business earned $2.41 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $1.50 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, September 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.30%. Illinois Tool Works’s payout ratio is 59.17%.

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.