Hartline Investment Corp Trims Position in Illinois Tool Works Inc. (NYSE:ITW)

Hartline Investment Corp cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,775 shares of the industrial products company’s stock after selling 165 shares during the quarter. Hartline Investment Corp’s holdings in Illinois Tool Works were worth $2,986,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Franklin Resources Inc. grew its stake in shares of Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after purchasing an additional 398,676 shares during the period. International Assets Investment Management LLC grew its stake in shares of 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 worth $847,610,000 after purchasing an additional 322,192 shares during the period. National Bank of Canada FI grew its stake in shares of Illinois Tool Works by 318.9% during the 3rd 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 during the period. Geode Capital Management LLC grew 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 worth $1,645,972,000 after purchasing an additional 167,422 shares during the period. Finally, Benjamin Edwards Inc. grew its stake in shares of Illinois Tool Works by 787.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock worth $48,945,000 after purchasing an additional 165,607 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Truist Financial raised their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus dropped their price target 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, February 6th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Wells Fargo & Company dropped their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Finally, Jefferies Financial Group lifted 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 note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $271.00.

Illinois Tool Works Stock Up 0.8 %

NYSE ITW opened at $257.56 on Tuesday. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The business’s fifty day simple moving average is $259.91 and its 200-day simple moving average is $257.40. The firm has a market cap of $76.06 billion, a PE ratio of 21.98, a P/E/G ratio of 4.79 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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 21.94% and a return on equity of 95.39%. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.38 earnings per share for the current year.

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.