Adero Partners LLC Raises Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Adero Partners LLC boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 13.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 931 shares of the industrial products company’s stock after purchasing an additional 107 shares during the period. Adero Partners LLC’s holdings in Illinois Tool Works were worth $236,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Nikulski Financial Inc. raised its stake in Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after purchasing an additional 39 shares during the period. Baron Wealth Management LLC raised its stake in Illinois Tool Works by 4.5% during the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 39 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its position in shares of Illinois Tool Works by 2.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after acquiring an additional 40 shares during the last quarter. Sigma Planning Corp lifted its holdings in shares of Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after acquiring an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. lifted its holdings in shares of Illinois Tool Works by 1.1% in the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after acquiring an additional 41 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 0.2 %

Shares of NYSE:ITW opened at $254.86 on Friday. The company’s 50 day moving average is $260.77 and its two-hundred day moving average is $257.12. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week 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. The company has a market cap of $75.26 billion, a PE ratio of 22.05, a P/E/G ratio of 3.61 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts predict that Illinois Tool Works Inc. will post 10.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ITW shares. Jefferies Financial Group upped their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Truist Financial upped their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and an average price target of $271.33.

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.