Bleakley Financial Group LLC Has $1.71 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Bleakley Financial Group LLC trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,759 shares of the industrial products company’s stock after selling 56 shares during the period. Bleakley Financial Group LLC’s holdings in Illinois Tool Works were worth $1,714,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ITW. JPMorgan Chase & Co. lowered their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. 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 report on Wednesday, November 13th. Citigroup decreased their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Barclays reduced their price target on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Jefferies Financial Group boosted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Stock Up 0.3 %

Shares of ITW opened at $255.77 on Friday. The firm’s 50-day simple moving average is $260.34 and its 200 day simple moving average is $257.11. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The firm has a market cap of $75.53 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 3.61 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.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. On average, analysts forecast that Illinois Tool Works Inc. will post 10.14 earnings per share for the current year.

Illinois Tool Works 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.