Robertson Stephens Wealth Management LLC Has $671,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Robertson Stephens Wealth Management LLC grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 10.1% during the fourth quarter, HoldingsChannel reports. The firm owned 2,629 shares of the industrial products company’s stock after buying an additional 242 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Illinois Tool Works were worth $671,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ITW. Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth approximately $28,000. True Wealth Design LLC boosted its position in Illinois Tool Works by 1,060.0% during 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 during the period. Catalyst Capital Advisors LLC acquired a new stake in Illinois Tool Works during the 3rd quarter worth approximately $32,000. Ulland Investment Advisors LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works during the 3rd quarter worth approximately $35,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on ITW. Jefferies Financial Group lifted their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Wells Fargo & Company cut their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Thursday. Barclays dropped their price target on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research 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 on the stock in a research report on Monday, January 13th. Finally, Truist Financial boosted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $255.77 on Friday. The company has a fifty day moving average of $260.34 and a 200-day moving average of $257.11. The firm has a market capitalization of $75.53 billion, a P/E ratio of 22.13, a P/E/G ratio of 3.61 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.14 EPS for the current year.

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.