Heck Capital Advisors LLC Buys Shares of 2,915 Illinois Tool Works Inc. (NYSE:ITW)

Heck Capital Advisors LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,915 shares of the industrial products company's stock, valued at approximately $739,000.

A number of other hedge funds also recently bought and sold shares of ITW. Norges Bank acquired a new stake in Illinois Tool Works in the 4th quarter valued at approximately $806,291,000. Raymond James Financial Inc. bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $203,949,000. Cerity Partners LLC increased its position in Illinois Tool Works by 263.9% during the fourth quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company's stock worth $229,269,000 after acquiring an additional 655,341 shares during the period. Northern Trust Corp raised its stake in Illinois Tool Works by 3.9% during the 4th quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock valued at $3,465,570,000 after purchasing an additional 508,188 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in Illinois Tool Works by 36,632.9% in the 4th quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company's stock valued at $111,209,000 after purchasing an additional 437,397 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the transaction, the chief financial officer now owns 50,502 shares in the company, valued at $13,698,667.50. This represents a 45.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the sale, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at $15,120,802.68. This represents a 46.78% decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on ITW shares. Robert W. Baird upped their price objective on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. UBS Group reduced their price objective on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Bank of America cut Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective on the stock. in a research report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective for the company in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $253.42.

Illinois Tool Works Stock Performance

Shares of ITW traded up $1.51 during mid-day trading on Thursday, reaching $245.34. The company's stock had a trading volume of 713,545 shares, compared to its average volume of 1,013,344. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The stock has a market cap of $71.88 billion, a P/E ratio of 20.93, a PEG ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The business has a 50-day simple moving average of $240.51 and a two-hundred day simple moving average of $254.44.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $2.34 by $0.04. The firm had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.83 billion. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The company's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.44 earnings per share. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's payout ratio is 52.77%.

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.