Waldron Private Wealth LLC Grows Stake in Illinois Tool Works Inc. (NYSE:ITW)

Waldron Private Wealth LLC raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,552 shares of the industrial products company’s stock after purchasing an additional 149 shares during the period. Waldron Private Wealth LLC’s holdings in Illinois Tool Works were worth $2,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works during the 4th quarter valued at about $28,000. True Wealth Design LLC boosted its holdings in shares of Illinois Tool Works by 1,060.0% in the third 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 during the period. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the third quarter worth approximately $32,000. Ulland Investment Advisors LLC purchased a new position in Illinois Tool Works during the 4th quarter worth $33,000. Finally, Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works during the 3rd quarter valued at $35,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Down 0.4 %

Shares of NYSE:ITW opened at $259.16 on Friday. The business has a 50-day moving average price of $262.35 and a 200-day moving average price of $256.88. The stock has a market cap of $76.53 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 3.57 and a beta of 1.11. 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 1.94.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the company earned $2.55 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. Equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Jefferies Financial Group raised their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Stifel Nicolaus decreased their price target on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Wells Fargo & Company lowered their target price on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Finally, Truist Financial upped their price target 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 investment analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $269.89.

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.