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

Strategic Family Wealth Counselors L.L.C. acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 772 shares of the industrial products company’s stock, valued at approximately $202,000.

Other hedge funds also recently made changes to their positions in the company. Norden Group LLC boosted its stake in shares of Illinois Tool Works by 30.6% during the 1st quarter. Norden Group LLC now owns 1,738 shares of the industrial products company’s stock valued at $466,000 after buying an additional 407 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Illinois Tool Works by 78.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock worth $9,907,000 after buying an additional 16,216 shares during the period. Quantbot Technologies LP grew its position in shares of Illinois Tool Works by 181.1% during the first quarter. Quantbot Technologies LP now owns 9,190 shares of the industrial products company’s stock worth $2,466,000 after acquiring an additional 5,921 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Illinois Tool Works by 212.9% in the 1st quarter. Empowered Funds LLC now owns 13,314 shares of the industrial products company’s stock worth $3,573,000 after acquiring an additional 9,059 shares during the period. Finally, PFG Advisors lifted its position in Illinois Tool Works by 1.1% in the 1st quarter. PFG Advisors now owns 6,725 shares of the industrial products company’s stock valued at $1,804,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.8 %

ITW stock traded up $2.16 during trading hours on Friday, hitting $275.07. The company’s stock had a trading volume of 125,258 shares, compared to its average volume of 1,057,267. The stock has a 50 day moving average price of $256.78 and a two-hundred day moving average price of $247.80. Illinois Tool Works Inc. has a 12 month low of $227.66 and a 12 month high of $277.58. The company has a market capitalization of $81.23 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 3.85 and a beta of 1.10. 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 posted its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the company earned $2.55 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts expect that Illinois Tool Works Inc. will post 10.75 earnings per share for the current 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 issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird raised their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Barclays boosted their target price on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company lifted their price target on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $256.40.

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.