Hartford Investment Management Co. Has $4.18 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Hartford Investment Management Co. decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,468 shares of the industrial products company’s stock after selling 319 shares during the period. Hartford Investment Management Co.’s holdings in Illinois Tool Works were worth $4,176,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ITW. Certuity LLC grew its position in Illinois Tool Works by 20.6% during the 4th quarter. Certuity LLC now owns 1,506 shares of the industrial products company’s stock worth $382,000 after acquiring an additional 257 shares during the last quarter. Portfolio Design Labs LLC grew its holdings in Illinois Tool Works by 56.5% during the 4th quarter. Portfolio Design Labs LLC now owns 1,643 shares of the industrial products company’s stock worth $417,000 after acquiring an additional 593 shares during the last quarter. Sovran Advisors LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $398,000. Stonebridge Financial Group LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $49,000. Finally, Core Alternative Capital grew its stake in shares of Illinois Tool Works by 3.5% during the fourth quarter. Core Alternative Capital now owns 15,599 shares of the industrial products company’s stock valued at $3,955,000 after purchasing an additional 525 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the topic of a number of recent research reports. Barclays decreased their price objective on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. JPMorgan Chase & Co. lowered their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Truist Financial lifted 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. Finally, Citigroup cut their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $271.00.

Illinois Tool Works Price Performance

NYSE ITW opened at $256.12 on Thursday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36. The stock has a market cap of $75.63 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.79 and a beta of 1.11. The business has a 50 day simple moving average of $259.14 and a 200 day simple moving average of $257.58. 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 announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Analysts anticipate that Illinois Tool Works Inc. will post 10.38 earnings per share for the current fiscal 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.