Advisors Preferred LLC Cuts Position in Illinois Tool Works Inc. (NYSE:ITW)

Advisors Preferred LLC trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 23.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,671 shares of the industrial products company’s stock after selling 508 shares during the period. Advisors Preferred LLC’s holdings in Illinois Tool Works were worth $418,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter worth $28,000. True Wealth Design LLC lifted its holdings in shares of Illinois Tool Works by 1,060.0% in the 3rd 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 last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter worth approximately $32,000. Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $33,000. Finally, Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works in the third quarter valued at about $35,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.3 %

Shares of ITW stock opened at $255.77 on Friday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a market capitalization of $75.53 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 4.79 and a beta of 1.11. The company’s fifty day moving average price is $259.91 and its 200-day moving average price is $257.18. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on ITW. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price objective for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. decreased 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. Stifel Nicolaus decreased their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday. 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 note on Friday, December 6th. Finally, Citigroup dropped their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and an average price target 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.