Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by McGuire Investment Group LLC

McGuire Investment Group LLC lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,656 shares of the industrial products company’s stock after acquiring an additional 125 shares during the quarter. Illinois Tool Works comprises about 1.6% of McGuire Investment Group LLC’s investment portfolio, making the stock its 26th biggest holding. McGuire Investment Group LLC’s holdings in Illinois Tool Works were worth $10,816,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ITW. Exchange Traded Concepts LLC grew its position in Illinois Tool Works by 57.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,845 shares of the industrial products company’s stock worth $2,496,000 after buying an additional 3,605 shares during the last quarter. McGlone Suttner Wealth Management Inc. grew its position in Illinois Tool Works by 12.4% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 1,943 shares of the industrial products company’s stock worth $493,000 after buying an additional 214 shares during the last quarter. Brighton Jones LLC grew its position in Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after buying an additional 277 shares during the last quarter. Endeavor Private Wealth Inc. acquired a new position in Illinois Tool Works in the fourth quarter worth approximately $90,000. Finally, Raleigh Capital Management Inc. grew its position in Illinois Tool Works by 7.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 810 shares of the industrial products company’s stock worth $205,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on ITW shares. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Wells Fargo & Company decreased their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Barclays decreased their price objective on shares of 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 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. Finally, Citigroup decreased their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $269.89.

Illinois Tool Works Stock Down 0.0 %

Illinois Tool Works stock opened at $259.83 on Friday. The company has a market capitalization of $76.73 billion, a P/E ratio of 22.48, a P/E/G ratio of 3.60 and a beta of 1.11. The firm’s fifty day simple moving average is $263.22 and its 200-day simple moving average is $256.12. 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 Inc. has a 1-year low of $232.77 and a 1-year high of $279.13.

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