Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Berkshire Bank

Berkshire Bank grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.8% during the 4th quarter, Holdings Channel reports. The firm owned 4,965 shares of the industrial products company’s stock after buying an additional 181 shares during the period. Berkshire Bank’s holdings in Illinois Tool Works were worth $1,259,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works during the 4th quarter worth about $28,000. True Wealth Design LLC grew its holdings in shares of Illinois Tool Works by 1,060.0% during the third 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 shares of Illinois Tool Works during the third quarter valued at approximately $32,000. Ulland Investment Advisors LLC acquired a new stake in Illinois Tool Works during the fourth quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter worth approximately $35,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $264.37 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The company has a market cap of $78.07 billion, a PE ratio of 22.87, a P/E/G ratio of 3.60 and a beta of 1.11. The company’s fifty day simple moving average is $263.01 and its 200-day simple moving average is $256.60. 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 issued its quarterly earnings data 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. During the same quarter in the previous year, the firm posted $2.55 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ITW shares. Wells Fargo & Company decreased their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Truist Financial lifted their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus cut their price objective on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a report on Friday. Citigroup dropped their price target 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. Finally, Barclays decreased their price target on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a report 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $269.89.

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.