Fort Washington Investment Advisors Inc. OH Reduces Stake in Illinois Tool Works Inc. (NYSE:ITW)

Fort Washington Investment Advisors Inc. OH lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 44.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,455 shares of the industrial products company’s stock after selling 2,799 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Illinois Tool Works were worth $876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ITW. Franklin Resources Inc. lifted its holdings in Illinois Tool Works by 41.0% in the 3rd 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 lifted its stake in shares of Illinois Tool Works by 26,088.4% in the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after purchasing an additional 322,192 shares during the period. National Bank of Canada FI lifted its stake in shares of Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after purchasing an additional 308,935 shares during the period. AXA S.A. lifted its stake in shares of Illinois Tool Works by 242.3% in the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock valued at $80,888,000 after purchasing an additional 241,618 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after purchasing an additional 167,422 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Robert W. Baird raised their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays lowered their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Jefferies Financial Group raised their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Citigroup reduced their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Finally, Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $270.11.

Illinois Tool Works Stock Up 0.2 %

Illinois Tool Works stock opened at $259.68 on Friday. The firm has a market cap of $76.68 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 3.63 and a beta of 1.11. The stock has a fifty day simple moving average of $263.43 and a two-hundred day simple moving average of $256.09. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.55 EPS. Equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works 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.