Capital Planning Advisors LLC Decreases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Capital Planning Advisors LLC reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 19.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,696 shares of the industrial products company’s stock after selling 2,746 shares during the period. Capital Planning Advisors LLC’s holdings in Illinois Tool Works were worth $2,966,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ITW. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $28,000. True Wealth Design LLC boosted its holdings in Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in Illinois Tool Works during the 3rd quarter valued at $32,000. Ulland Investment Advisors LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter worth about $33,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works during the 3rd quarter valued at about $35,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $259.02 on Thursday. The company has a market capitalization of $76.49 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 3.63 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company’s 50-day moving average is $263.43 and its 200 day moving average is $256.09.

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

Analyst Ratings Changes

A number of research firms recently issued reports on ITW. Jefferies Financial Group increased their price target 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. Truist Financial lifted their price target 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. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup dropped their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Finally, Robert W. Baird increased their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $270.11.

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.