Independence Bank of Kentucky Sells 190 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Independence Bank of Kentucky reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,098 shares of the industrial products company’s stock after selling 190 shares during the period. Independence Bank of Kentucky’s holdings in Illinois Tool Works were worth $1,546,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ITW. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $28,000. True Wealth Design LLC lifted its position in shares of 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 worth $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works during the third quarter worth $32,000. Ulland Investment Advisors LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth about $35,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $259.16 on Friday. The stock has a 50 day simple moving average of $262.05 and a 200 day simple moving average of $256.96. The stock has a market cap of $76.53 billion, a P/E ratio of 22.42, a PEG ratio of 3.57 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 has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping 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 company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the firm earned $2.55 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. Research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Wall Street Analyst Weigh In

ITW has been the subject of a number of analyst reports. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Stifel Nicolaus cut their price target on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Barclays dropped their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird lifted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Citigroup dropped their price objective on 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $269.89.

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.