Waldron Private Wealth LLC Boosts Stake in Illinois Tool Works Inc. (NYSE:ITW)

Waldron Private Wealth LLC lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,552 shares of the industrial products company’s stock after purchasing an additional 149 shares during the quarter. Waldron Private Wealth LLC’s holdings in Illinois Tool Works were worth $2,168,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp raised its position in shares of Illinois Tool Works by 1.2% during the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after purchasing an additional 149,272 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after acquiring an additional 167,422 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Illinois Tool Works by 4.2% in the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock worth $877,234,000 after acquiring an additional 135,023 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Illinois Tool Works by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock valued at $484,685,000 after purchasing an additional 32,656 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in Illinois Tool Works by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company’s stock valued at $460,533,000 after purchasing an additional 17,139 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $259.16 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. 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 company has a 50 day moving average price of $262.35 and a 200 day moving average price of $256.88. The stock has a market capitalization of $76.53 billion, a P/E ratio of 22.42, a PEG ratio of 3.57 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.55 earnings per share. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on ITW. Stifel Nicolaus reduced their target price on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Robert W. Baird upped their price target 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. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Barclays cut their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Finally, Citigroup lowered their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $269.89.

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.