Flagship Harbor Advisors LLC trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 8.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,219 shares of the industrial products company’s stock after selling 112 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Illinois Tool Works were worth $309,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. Pensionfund Sabic boosted its holdings in Illinois Tool Works by 37.0% in the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after purchasing an additional 2,000 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after acquiring an additional 398,676 shares in the last quarter. Clark & Stuart Inc bought a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $1,729,000. Czech National Bank lifted its holdings in Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after purchasing an additional 3,227 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in Illinois Tool Works during the third quarter worth approximately $1,179,000. Institutional investors and hedge funds own 79.77% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on ITW shares. Jefferies Financial Group boosted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Stifel Nicolaus lowered their price target on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Robert W. Baird boosted their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Truist Financial raised their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $269.89.
Illinois Tool Works Stock Down 0.8 %
Shares of ITW stock opened at $256.59 on Thursday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The stock has a fifty day moving average price of $262.74 and a 200 day moving average price of $256.86. The stock has a market cap of $75.77 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11.
Illinois Tool Works (NYSE:ITW – Get Free Report) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the business earned $2.55 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. Analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.
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.
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