Park Place Capital Corp Sells 42 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Park Place Capital Corp decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 303 shares of the industrial products company’s stock after selling 42 shares during the quarter. Park Place Capital Corp’s holdings in Illinois Tool Works were worth $77,000 at the end of the most recent reporting period.

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

Illinois Tool Works Trading Down 0.9 %

NYSE:ITW opened at $259.02 on Thursday. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The firm has a fifty day simple moving average of $263.71 and a 200-day simple moving average of $256.07. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a market capitalization of $76.49 billion, a P/E ratio of 22.41, a PEG ratio of 3.63 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate 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 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 in the previous year, the business earned $2.55 EPS. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on ITW shares. Robert W. Baird raised their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price objective for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Stifel Nicolaus lifted their target price on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Barclays dropped their price target on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their price objective on 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 analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $270.11.

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.