Invesco LLC Has $759,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Invesco LLC raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 9.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,993 shares of the industrial products company’s stock after purchasing an additional 263 shares during the period. Invesco LLC’s holdings in Illinois Tool Works were worth $759,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ITW. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at $28,000. True Wealth Design LLC lifted its stake 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 period. Catalyst Capital Advisors LLC bought a new stake in shares of Illinois Tool Works during the 3rd quarter valued at about $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 bought a new stake in Illinois Tool Works in the third quarter worth approximately $35,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock traded down $0.21 during trading hours on Wednesday, hitting $258.50. 55,418 shares of the company’s stock traded hands, compared to its average volume of 818,389. The company has a fifty day simple moving average of $262.74 and a 200-day simple moving average of $256.86. 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 stock has a market capitalization of $76.33 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 3.60 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13.

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

Analysts Set New Price Targets

ITW has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target 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. 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 report on Wednesday, January 8th. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Citigroup cut their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Finally, Stifel Nicolaus lowered their price objective on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $269.89.

Illinois Tool Works Company 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.