Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Berkshire Bank

Berkshire Bank lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,965 shares of the industrial products company’s stock after purchasing an additional 181 shares during the quarter. Berkshire Bank’s holdings in Illinois Tool Works were worth $1,259,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Pensionfund Sabic raised its stake in shares of Illinois Tool Works by 37.0% in the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after acquiring an additional 2,000 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Illinois Tool Works by 41.0% in the 3rd 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 in the last quarter. Clark & Stuart Inc acquired a new position in shares of Illinois Tool Works during the fourth quarter worth $1,729,000. Czech National Bank increased its holdings in shares of Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after acquiring an additional 3,227 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Illinois Tool Works during the third quarter worth approximately $1,179,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $264.37 on Tuesday. 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 market capitalization of $78.07 billion, a P/E ratio of 22.87, a P/E/G ratio of 3.60 and a beta of 1.11. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The company’s fifty day moving average is $263.01 and its two-hundred day moving average is $256.60.

Illinois Tool Works (NYSE:ITW) last issued its earnings results 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 company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the firm earned $2.55 EPS. The business’s revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. 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 note on Wednesday, January 8th. Jefferies Financial Group boosted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Truist Financial raised their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Robert W. Baird upped 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 investment analysts have rated the stock with a sell rating, five have issued 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, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $269.89.

Illinois Tool Works Company 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.