Hartford Investment Management Co. Has $4.18 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Hartford Investment Management Co. reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,468 shares of the industrial products company’s stock after selling 319 shares during the period. Hartford Investment Management Co.’s holdings in Illinois Tool Works were worth $4,176,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITW. Certuity LLC boosted its holdings in Illinois Tool Works by 20.6% in the fourth quarter. Certuity LLC now owns 1,506 shares of the industrial products company’s stock worth $382,000 after purchasing an additional 257 shares in the last quarter. Portfolio Design Labs LLC boosted its position in Illinois Tool Works by 56.5% during the fourth quarter. Portfolio Design Labs LLC now owns 1,643 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 593 shares during the period. Sovran Advisors LLC acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $398,000. Stonebridge Financial Group LLC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $49,000. Finally, Core Alternative Capital boosted its holdings in shares of Illinois Tool Works by 3.5% during the 4th quarter. Core Alternative Capital now owns 15,599 shares of the industrial products company’s stock worth $3,955,000 after buying an additional 525 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $256.12 on Thursday. The firm has a market cap of $75.63 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. The firm’s 50-day simple moving average is $259.14 and its 200-day simple moving average is $257.58. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ITW. Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Truist Financial raised their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their target price for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and an average target price of $271.00.

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.