3,711 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by Milestone Asset Management LLC

Milestone Asset Management LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, Holdings Channel reports. The firm purchased 3,711 shares of the industrial products company’s stock, valued at approximately $941,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pensionfund Sabic boosted its stake in shares of Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after buying an additional 2,000 shares during the last quarter. Franklin Resources Inc. boosted its position in Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares during the last quarter. Clark & Stuart Inc bought a new position in Illinois Tool Works in the fourth quarter valued at approximately $1,729,000. Czech National Bank increased its holdings in Illinois Tool Works by 5.9% during the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after buying an additional 3,227 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Illinois Tool Works in the 3rd quarter valued at about $1,179,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on ITW shares. Jefferies Financial Group boosted 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. Citigroup dropped their price target 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. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Stifel Nicolaus dropped their price objective on shares of 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. Finally, Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus target price of $269.89.

Illinois Tool Works Stock Down 0.8 %

Shares of NYSE ITW opened at $256.59 on Thursday. The company’s fifty day simple moving average is $262.74 and its 200 day simple moving average is $256.86. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a market cap of $75.77 billion, a PE ratio of 22.20, a P/E/G ratio of 3.60 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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 firm 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 revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.55 EPS. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal 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.