2,370 Shares in Illinois Tool Works Inc. (NYSE:ITW) Bought by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,370 shares of the industrial products company’s stock, valued at approximately $621,000.

Several other institutional investors have also added to or reduced their stakes in ITW. Fairscale Capital LLC purchased 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 in the 3rd quarter worth about $32,000. Financial Connections Group Inc. purchased a new position in Illinois Tool Works during the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works during the third quarter worth about $35,000. Finally, Meeder Asset Management Inc. grew its holdings in Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 115 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Evercore ISI dropped their price target on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. 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. Stifel Nicolaus lifted their price target on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group decreased 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. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $256.40.

Illinois Tool Works Stock Performance

ITW stock traded up $1.04 on Friday, hitting $273.95. The company had a trading volume of 37,766 shares, compared to its average volume of 1,056,863. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 12-month low of $227.66 and a 12-month high of $277.58. The stock has a market cap of $80.90 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 3.85 and a beta of 1.10. The stock’s 50-day simple moving average is $256.78 and its 200 day simple moving average is $247.80.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the company posted $2.55 earnings per share. Illinois Tool Works’s revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 10.75 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.19%. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

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.