Schmidt P J Investment Management Inc. Has $4.72 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Schmidt P J Investment Management Inc. lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,623 shares of the industrial products company’s stock after selling 311 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Illinois Tool Works were worth $4,722,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITW. Franklin Resources Inc. grew its holdings in shares of 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 valued at $358,321,000 after buying an additional 398,676 shares in the last quarter. International Assets Investment Management LLC grew its stake in Illinois Tool Works by 26,088.4% during the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after acquiring an additional 322,192 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Illinois Tool Works by 318.9% in the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after purchasing an additional 308,935 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 buying an additional 167,422 shares during the period. Finally, Benjamin Edwards Inc. boosted its position 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 valued at $48,945,000 after purchasing an additional 165,607 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

ITW opened at $254.40 on Thursday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The company’s 50 day simple moving average is $261.20 and its 200-day simple moving average is $257.14. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The stock has a market capitalization of $75.12 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 3.61 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

ITW has been the subject of several recent research reports. Citigroup decreased their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Jefferies Financial Group upped their target price 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. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Robert W. Baird lifted their price objective 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, Truist Financial raised their target price 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. Two research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $272.67.

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.