Trust Point Inc. Acquires 136 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Trust Point Inc. raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,339 shares of the industrial products company’s stock after purchasing an additional 136 shares during the period. Trust Point Inc.’s holdings in Illinois Tool Works were worth $593,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp grew its position in Illinois Tool Works by 1.2% during the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after buying an additional 149,272 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after purchasing an additional 167,422 shares during the period. Fisher Asset Management LLC raised its stake in Illinois Tool Works by 4.2% in the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after purchasing an additional 135,023 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Illinois Tool Works by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock worth $484,685,000 after purchasing an additional 32,656 shares during the period. Finally, Stifel Financial Corp grew its stake in Illinois Tool Works by 1.0% during the third quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company’s stock worth $460,533,000 after buying an additional 17,139 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the topic of several analyst reports. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird raised their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group upped their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Citigroup decreased their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Finally, Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their target price for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $272.67.

Illinois Tool Works Trading Down 0.3 %

ITW opened at $254.70 on Wednesday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company’s 50 day moving average price is $261.64 and its two-hundred day moving average price is $257.06. The firm has a market capitalization of $75.21 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 3.61 and a beta of 1.11.

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.