Strategic Financial Concepts LLC Invests $2.71 Million in Illinois Tool Works Inc. (NYSE:ITW)

Strategic Financial Concepts LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, Holdings Channel reports. The fund acquired 10,686 shares of the industrial products company’s stock, valued at approximately $2,710,000.

Several other hedge funds also recently added to or reduced their stakes in ITW. Sugar Maple Asset Management LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $28,000. True Wealth Design LLC raised its holdings in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the period. Catalyst Capital Advisors LLC purchased a new position in Illinois Tool Works during the third quarter worth about $32,000. Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works in the 3rd quarter valued at approximately $35,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Citigroup dropped their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Jefferies Financial Group lifted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Barclays decreased their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Robert W. Baird raised their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $271.00.

Illinois Tool Works Stock Up 0.3 %

ITW stock opened at $255.77 on Monday. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company’s 50 day moving average price is $259.91 and its 200 day moving average price is $257.28. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36. The firm has a market capitalization of $75.53 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 4.79 and a beta of 1.11.

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

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.