United Asset Strategies Inc. Buys 630 Shares of Illinois Tool Works Inc. (NYSE:ITW)

United Asset Strategies Inc. boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,162 shares of the industrial products company’s stock after acquiring an additional 630 shares during the period. United Asset Strategies Inc.’s holdings in Illinois Tool Works were worth $2,138,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ITW. Cornerstone Wealth Management LLC lifted its holdings in Illinois Tool Works by 2.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock worth $395,000 after purchasing an additional 41 shares in the last quarter. City Holding Co. boosted its position in shares of Illinois Tool Works by 0.5% in the third quarter. City Holding Co. now owns 8,057 shares of the industrial products company’s stock valued at $1,856,000 after acquiring an additional 44 shares during the period. Nicolet Advisory Services LLC grew its stake in Illinois Tool Works by 4.5% during the third quarter. Nicolet Advisory Services LLC now owns 1,066 shares of the industrial products company’s stock valued at $247,000 after acquiring an additional 46 shares in the last quarter. PFG Advisors increased its holdings in Illinois Tool Works by 0.7% during the 4th quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock worth $1,743,000 after acquiring an additional 46 shares during the period. Finally, Crestwood Advisors Group LLC lifted its stake in Illinois Tool Works by 1.3% in the 4th quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock worth $952,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares in the company, valued at approximately $12,299,844.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the transaction, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,471 shares of company stock valued at $48,712,316. 1.26% of the stock is owned by company insiders.

Illinois Tool Works Stock Down 0.1 %

Illinois Tool Works stock traded down $0.27 during mid-day trading on Tuesday, reaching $253.56. The stock had a trading volume of 336,963 shares, compared to its average volume of 1,244,364. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15. The company has a 50-day moving average price of $260.93 and a two-hundred day moving average price of $250.52. The company has a market capitalization of $75.75 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 3.73 and a beta of 1.13. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.01. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the business earned $2.34 earnings per share. The company’s revenue was up .3% on a year-over-year basis. On average, analysts expect that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Analyst Upgrades and Downgrades

ITW has been the subject of several recent analyst reports. Citigroup boosted their target price on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Stifel Nicolaus lifted their price target on Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a research note on Tuesday, January 23rd. Barclays increased their price objective on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. Finally, Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $254.78.

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.