Roxbury Financial LLC Buys New Stake in Illinois Tool Works Inc. (NYSE:ITW)

Roxbury Financial LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 2,215 shares of the industrial products company’s stock, valued at approximately $615,000.

A number of other large investors also recently made changes to their positions in ITW. Sugar Maple Asset Management LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter worth $28,000. True Wealth Design LLC lifted its stake in shares of Illinois Tool Works by 1,060.0% during 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 position in shares of Illinois Tool Works during the 3rd quarter worth $32,000. Ulland Investment Advisors LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter worth $33,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.8 %

Shares of NYSE ITW opened at $257.98 on Friday. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The company has a market cap of $76.18 billion, a P/E ratio of 22.01, a P/E/G ratio of 4.79 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.90. The stock has a fifty day moving average price of $258.44 and a 200 day moving average price of $257.58.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Research analysts anticipate that Illinois Tool Works Inc. will post 10.38 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.33%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ITW shares. Jefferies Financial Group upped their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Robert W. Baird upped their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays dropped their price objective on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, Wells Fargo & Company dropped their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $271.00.

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.