Mediolanum International Funds Ltd Has $22.58 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Mediolanum International Funds Ltd boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 15.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,805 shares of the industrial products company’s stock after buying an additional 12,007 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Illinois Tool Works were worth $22,575,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ITW. Franklin Resources Inc. raised its stake 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 worth $358,321,000 after buying an additional 398,676 shares during the last quarter. International Assets Investment Management LLC raised its position 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 worth $847,610,000 after acquiring an additional 322,192 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after purchasing an additional 308,935 shares during the period. Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 2.7% during the 3rd 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 purchasing an additional 167,422 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its stake in Illinois Tool Works by 787.3% during the third quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock worth $48,945,000 after purchasing an additional 165,607 shares during the period. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ITW. Truist Financial boosted their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup cut 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 research note on Monday, January 13th. Jefferies Financial Group lifted their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Barclays cut their price objective on shares of 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, Robert W. Baird upped their price target on 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 given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $269.89.

Illinois Tool Works Trading Up 1.4 %

Shares of Illinois Tool Works stock opened at $259.88 on Friday. 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 company has a market capitalization of $76.74 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 3.57 and a beta of 1.11. The stock has a fifty day simple moving average of $262.55 and a 200 day simple moving average of $256.86. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. The company 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%. Illinois Tool Works’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.55 earnings per share. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

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.