Janney Montgomery Scott LLC Purchases 8,906 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Janney Montgomery Scott LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,917 shares of the industrial products company’s stock after acquiring an additional 8,906 shares during the period. Janney Montgomery Scott LLC owned approximately 0.07% of Illinois Tool Works worth $56,016,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth $28,000. True Wealth Design LLC increased its holdings in 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 worth $30,000 after buying an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in Illinois Tool Works in the 3rd quarter worth about $32,000. Ulland Investment Advisors LLC bought a new position in Illinois Tool Works during the 4th quarter valued at about $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter valued at about $35,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ITW shares. Citigroup decreased their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Wells Fargo & Company dropped their price target on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird upped their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their target price on Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Finally, Barclays lowered their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $270.11.

Illinois Tool Works Stock Performance

ITW opened at $259.68 on Friday. The company has a 50 day simple moving average of $263.43 and a two-hundred day simple moving average of $256.09. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The firm has a market cap of $76.68 billion, a P/E ratio of 22.46, a PEG ratio of 3.63 and a beta of 1.11. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13.

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, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.55 EPS. Equities analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal 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.