Secured Retirement Advisors LLC Makes New $1.45 Million Investment in Illinois Tool Works Inc. (NYSE:ITW)

Secured Retirement Advisors LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,524 shares of the industrial products company’s stock, valued at approximately $1,447,000. Illinois Tool Works accounts for about 1.4% of Secured Retirement Advisors LLC’s investment portfolio, making the stock its 27th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new stake in Illinois Tool Works in the 4th quarter worth about $26,000. Frazier Financial Advisors LLC bought a new position in Illinois Tool Works in the 4th quarter worth approximately $26,000. Financial Connections Group Inc. purchased a new stake in Illinois Tool Works in the 4th quarter worth $28,000. Security National Bank bought a new stake in Illinois Tool Works in the 4th quarter worth approximately $28,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in Illinois Tool Works during the fourth quarter valued at $29,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Price Performance

Illinois Tool Works stock traded down $6.10 during mid-day trading on Friday, hitting $234.50. 372,109 shares of the company were exchanged, compared to its average volume of 1,172,057. Illinois Tool Works Inc. has a 12-month low of $217.50 and a 12-month high of $271.15. The company has a market capitalization of $69.97 billion, a P/E ratio of 23.73, a PEG ratio of 3.56 and a beta of 1.11. The business’s 50 day simple moving average is $247.10 and its two-hundred day simple moving average is $254.28. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the prior year, the business posted $2.33 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts forecast that Illinois Tool Works Inc. will post 10.22 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Friday, June 28th. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ITW shares. Barclays dropped their target price on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a research report on Tuesday, June 4th. Wells Fargo & Company decreased their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Citigroup increased their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus lifted their price target on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $256.44.

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.