Dynamic Advisor Solutions LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 13.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,941 shares of the industrial products company’s stock after selling 611 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Illinois Tool Works were worth $999,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its holdings in shares of Illinois Tool Works by 165.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 6,843 shares of the industrial products company’s stock valued at $1,622,000 after buying an additional 4,263 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Illinois Tool Works by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 167,661 shares of the industrial products company’s stock worth $39,729,000 after acquiring an additional 2,659 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Illinois Tool Works by 1.9% in the 2nd quarter. Mackenzie Financial Corp now owns 30,692 shares of the industrial products company’s stock worth $7,273,000 after acquiring an additional 562 shares during the last quarter. MidWestOne Financial Group Inc. boosted its stake in shares of Illinois Tool Works by 29.9% in the 2nd quarter. MidWestOne Financial Group Inc. now owns 3,668 shares of the industrial products company’s stock valued at $869,000 after purchasing an additional 845 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of Illinois Tool Works by 0.5% during the 2nd quarter. Creative Planning now owns 86,130 shares of the industrial products company’s stock valued at $20,409,000 after purchasing an additional 429 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on ITW shares. Citigroup reduced their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Jefferies Financial Group raised their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Truist Financial boosted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays cut their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Finally, Robert W. Baird increased their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Two equities research 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. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $269.89.
Illinois Tool Works Trading Down 0.0 %
NYSE:ITW opened at $259.83 on Monday. The company has a 50-day moving average price of $263.01 and a 200-day moving average price of $256.45. The stock has a market cap of $76.73 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 3.60 and a beta of 1.11. 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 12 month low of $232.77 and a 12 month high of $279.13.
Illinois Tool Works (NYSE:ITW – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the business posted $2.55 earnings per share. Illinois Tool Works’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.
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.
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