Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,949 shares of the industrial products company’s stock after buying an additional 106 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Illinois Tool Works were worth $773,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norden Group LLC increased its holdings 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 purchasing an additional 407 shares in the last quarter. Diversify Advisory Services LLC acquired a new position in shares of Illinois Tool Works in the first quarter worth about $579,000. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Illinois Tool Works by 9.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,629 shares of the industrial products company’s stock worth $1,779,000 after acquiring an additional 558 shares in the last quarter. Tobam grew its position in shares of Illinois Tool Works by 9.5% during the 1st quarter. Tobam now owns 1,436 shares of the industrial products company’s stock valued at $385,000 after acquiring an additional 124 shares during the period. Finally, Choreo LLC increased its stake in shares of Illinois Tool Works by 0.4% in the 1st quarter. Choreo LLC now owns 10,902 shares of the industrial products company’s stock valued at $2,925,000 after purchasing an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of several research analyst reports. Jefferies Financial Group dropped their price objective on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $256.40.

Illinois Tool Works Price Performance

NYSE:ITW opened at $263.08 on Friday. Illinois Tool Works Inc. has a one year low of $225.88 and a one year high of $271.15. The stock has a market cap of $78.11 billion, a PE ratio of 22.76, a P/E/G ratio of 4.21 and a beta of 1.10. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.92 and a current ratio of 1.36. The stock has a 50 day moving average price of $255.59 and a 200 day moving average price of $247.43.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results 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 business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the firm earned $2.55 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts expect that Illinois Tool Works Inc. will post 10.16 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders 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 dividend yield of 2.28%. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

About Illinois Tool Works

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.