Rappaport Reiches Capital Management LLC Sells 588 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Rappaport Reiches Capital Management LLC trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 20.8% during the fourth quarter, HoldingsChannel reports. The fund owned 2,241 shares of the industrial products company’s stock after selling 588 shares during the quarter. Rappaport Reiches Capital Management LLC’s holdings in Illinois Tool Works were worth $568,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ITW. Franklin Resources Inc. boosted its holdings in Illinois Tool Works by 41.0% in 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 acquiring an additional 398,676 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Illinois Tool Works by 26,088.4% in the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after purchasing an additional 322,192 shares during the last quarter. National Bank of Canada FI increased its position in shares of Illinois Tool Works by 318.9% during the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after buying an additional 308,935 shares during the period. AXA S.A. raised its stake in Illinois Tool Works by 242.3% during the second quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock worth $80,888,000 after buying an additional 241,618 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after acquiring an additional 167,422 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $259.68 on Friday. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The stock has a 50 day moving average price of $263.43 and a two-hundred day moving average price of $256.09. The firm has a market capitalization of $76.68 billion, a P/E ratio of 22.46, a P/E/G ratio of 3.60 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released 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. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the firm posted $2.55 EPS. Illinois Tool Works’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ITW has been the subject of several research analyst reports. Citigroup lowered their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Robert W. Baird boosted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays lowered 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. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Truist Financial upped their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target 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.