F M Investments LLC Purchases New Shares in Illinois Tool Works Inc. (NYSE:ITW)

F M Investments LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 854 shares of the industrial products company’s stock, valued at approximately $202,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Frazier Financial Advisors LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $26,000. Security National Bank acquired a new position in Illinois Tool Works during the 4th quarter worth $28,000. Financial Connections Group Inc. bought a new position in Illinois Tool Works in the 2nd quarter valued at $30,000. Christopher J. Hasenberg Inc acquired a new stake in shares of Illinois Tool Works in the 1st quarter valued at $32,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works during the first quarter worth $34,000. Institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ITW shares. Evercore ISI decreased their price target on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Stifel Nicolaus lowered their price target on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group lowered their target price on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Finally, Barclays cut their price target on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $250.22.

Insider Buying and Selling

In other news, Director David Byron Smith, Jr. bought 775 shares of the stock in a transaction on Thursday, June 13th. The stock was purchased at an average price of $238.82 per share, for a total transaction of $185,085.50. Following the acquisition, the director now owns 121,506 shares in the company, valued at $29,018,062.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $253.18 on Friday. The stock’s fifty day simple moving average is $242.12 and its 200 day simple moving average is $249.13. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 2.17. The company has a market capitalization of $75.55 billion, a PE ratio of 24.97, a PEG ratio of 3.80 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $217.50 and a 12 month high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the business posted $2.41 EPS. Illinois Tool Works’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, research analysts predict that Illinois Tool Works Inc. will post 10.25 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $1.50 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.37%. Illinois Tool Works’s dividend payout ratio is currently 59.17%.

Illinois Tool Works Company 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.