Capital Planning Advisors LLC Sells 2,746 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Capital Planning Advisors LLC decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 19.0% during the fourth quarter, Holdings Channel reports. The firm owned 11,696 shares of the industrial products company’s stock after selling 2,746 shares during the quarter. Capital Planning Advisors LLC’s holdings in Illinois Tool Works were worth $2,966,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Endeavor Private Wealth Inc. purchased a new position in shares of Illinois Tool Works in the 4th quarter worth $90,000. Raleigh Capital Management Inc. grew its stake in shares of Illinois Tool Works by 7.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 810 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 57 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Illinois Tool Works by 4.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 220,917 shares of the industrial products company’s stock valued at $56,016,000 after purchasing an additional 8,906 shares during the last quarter. Davis Capital Management lifted its stake in shares of Illinois Tool Works by 198.4% in the 4th quarter. Davis Capital Management now owns 746 shares of the industrial products company’s stock worth $189,000 after purchasing an additional 496 shares during the period. Finally, Simon Quick Advisors LLC boosted its holdings in shares of Illinois Tool Works by 3.2% in the fourth quarter. Simon Quick Advisors LLC now owns 2,247 shares of the industrial products company’s stock worth $570,000 after buying an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. 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 research report on Wednesday, January 8th. Citigroup lowered their target price on 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. Truist Financial upped their price target on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price objective for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus increased their target price on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $270.11.

Illinois Tool Works Trading Down 0.9 %

Illinois Tool Works stock opened at $259.02 on Thursday. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The firm’s 50 day moving average price is $263.43 and its 200-day moving average price is $256.09. 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 cap of $76.49 billion, a P/E ratio of 22.41, a PEG ratio of 3.63 and a beta of 1.11.

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

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.