Advisors Preferred LLC Reduces Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Advisors Preferred LLC trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 23.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,671 shares of the industrial products company’s stock after selling 508 shares during the period. Advisors Preferred LLC’s holdings in Illinois Tool Works were worth $418,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ITW. Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works in the fourth quarter valued at $28,000. True Wealth Design LLC grew its position in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Illinois Tool Works during the 3rd quarter valued at about $32,000. Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works during the fourth quarter valued at about $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works in the third quarter worth approximately $35,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wells Fargo & Company lowered their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday. Stifel Nicolaus lowered their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note on Thursday. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price target for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Robert W. Baird raised their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two 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 an average price target of $271.00.

Illinois Tool Works Price Performance

NYSE:ITW opened at $255.77 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $75.53 billion, a P/E ratio of 21.82, a P/E/G ratio of 4.79 and a beta of 1.11. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The business’s 50-day moving average is $259.91 and its 200 day moving average is $257.18.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data 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 return on equity of 95.39% and a net margin of 21.94%. On average, equities research analysts forecast 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.