Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Money Concepts Capital Corp

Money Concepts Capital Corp cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,021 shares of the industrial products company’s stock after selling 78 shares during the period. Money Concepts Capital Corp’s holdings in Illinois Tool Works were worth $1,019,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ITW. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at about $28,000. True Wealth Design LLC increased its stake in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $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 purchased a new stake in Illinois Tool Works during the fourth quarter worth $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works in the third quarter valued at $35,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ITW shares. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group increased 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 report on Friday, December 6th. Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus lowered their target price on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Finally, Citigroup cut their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Two 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $272.67.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $254.40 on Thursday. The business has a fifty day simple moving average of $261.20 and a 200-day simple moving average of $257.14. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a market cap of $75.12 billion, a P/E ratio of 22.01, a P/E/G ratio of 3.61 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.14 EPS for the current 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.