Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Lowered by Crewe Advisors LLC

Crewe Advisors LLC lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 33.0% in the 4th quarter, Holdings Channel reports. The fund owned 313 shares of the industrial products company’s stock after selling 154 shares during the period. Crewe Advisors LLC’s holdings in Illinois Tool Works were worth $79,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Franklin Resources Inc. lifted its holdings in Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after purchasing an additional 398,676 shares during the period. International Assets Investment Management LLC lifted its holdings in Illinois Tool Works by 26,088.4% in the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock worth $847,610,000 after purchasing an additional 322,192 shares during the period. National Bank of Canada FI lifted its holdings in Illinois Tool Works by 318.9% in the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after purchasing an additional 308,935 shares during the period. Geode Capital Management LLC lifted its holdings in 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 worth $1,645,972,000 after purchasing an additional 167,422 shares during the period. Finally, Benjamin Edwards Inc. lifted its holdings in Illinois Tool Works by 787.3% in the third quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock worth $48,945,000 after purchasing an additional 165,607 shares during the period. Institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday. Robert W. Baird upped their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus cut their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday. Truist Financial upped their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $271.33.

Illinois Tool Works Price Performance

NYSE ITW opened at $254.86 on Friday. The stock’s 50-day moving average price is $260.77 and its two-hundred day moving average price is $257.12. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The company has a market cap of $75.26 billion, a PE ratio of 22.05, a PEG ratio of 3.61 and a beta of 1.11. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. On average, analysts predict 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.