Strategic Family Wealth Counselors L.L.C. Takes $202,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Strategic Family Wealth Counselors L.L.C. purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 772 shares of the industrial products company’s stock, valued at approximately $202,000.

Several other institutional investors have also recently bought and sold shares of ITW. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works in the second quarter valued at about $30,000. Fairscale Capital LLC acquired a new stake in Illinois Tool Works in the second quarter worth $30,000. Catalyst Capital Advisors LLC bought a new position in shares of Illinois Tool Works during the third quarter worth $32,000. Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works in the 3rd quarter valued at $35,000. Finally, Meeder Asset Management Inc. increased its position in shares of Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after buying an additional 115 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of ITW traded up $2.16 during trading hours on Friday, hitting $275.07. 125,258 shares of the company were exchanged, compared to its average volume of 1,057,267. 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 Inc. has a fifty-two week low of $227.66 and a fifty-two week high of $277.58. The company has a market cap of $81.23 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 3.85 and a beta of 1.10. The firm’s fifty day moving average is $256.78 and its 200 day moving average is $247.80.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 21.66% and a return on equity of 97.06%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.55 earnings per share. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.75 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.18%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Analyst Ratings Changes

ITW has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Barclays increased their price objective on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Evercore ISI lowered their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Finally, Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $256.40.

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.