4,323 Shares in Illinois Tool Works Inc. (NYSE:ITW) Bought by MOKAN Wealth Management Inc.

MOKAN Wealth Management Inc. bought a new position in Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, Holdings Channel reports. The fund bought 4,323 shares of the industrial products company’s stock, valued at approximately $1,096,000.

A number of other hedge funds have also modified their holdings of the stock. Franklin Resources Inc. boosted its position in shares of Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after buying an additional 398,676 shares during the period. International Assets Investment Management LLC boosted its position in shares of Illinois Tool Works by 26,088.4% in the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock worth $847,610,000 after buying an additional 322,192 shares during the period. National Bank of Canada FI boosted its position in shares of Illinois Tool Works by 318.9% in the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after buying an additional 308,935 shares during the period. Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after buying an additional 167,422 shares during the period. Finally, Benjamin Edwards Inc. boosted its position in shares of Illinois Tool Works by 787.3% in the third quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock worth $48,945,000 after buying an additional 165,607 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 0.8 %

NYSE ITW opened at $257.98 on Friday. The company has a market capitalization of $76.18 billion, a price-to-earnings ratio of 22.01, a PEG 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. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The stock’s 50 day moving average is $258.13 and its two-hundred day moving average is $257.65.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping 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%. Equities analysts forecast that Illinois Tool Works Inc. will post 10.38 earnings per share 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 issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.33%. Illinois Tool Works’s payout ratio is currently 51.19%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price objective for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Robert W. Baird lifted their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. reduced their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $271.00.

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.