Klingenstein Fields & Co. LLC reduced its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 190,419 shares of the industrial products company’s stock after selling 6,755 shares during the quarter. Klingenstein Fields & Co. LLC owned about 0.06% of Illinois Tool Works worth $24,124,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Douglas Lane & Associates LLC raised its position in shares of Illinois Tool Works by 1.8% during the 4th quarter. Douglas Lane & Associates LLC now owns 116,094 shares of the industrial products company’s stock valued at $14,708,000 after acquiring an additional 2,089 shares during the last quarter. Spearhead Capital Advisors LLC grew its holdings in Illinois Tool Works by 4.5% in the third quarter. Spearhead Capital Advisors LLC now owns 22,083 shares of the industrial products company’s stock worth $3,106,000 after purchasing an additional 955 shares during the period. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Illinois Tool Works by 36.4% during the third quarter. Dorsey & Whitney Trust CO LLC now owns 6,222 shares of the industrial products company’s stock valued at $878,000 after buying an additional 1,662 shares during the last quarter. Factory Mutual Insurance Co. boosted its holdings in Illinois Tool Works by 2.2% during the third quarter. Factory Mutual Insurance Co. now owns 308,600 shares of the industrial products company’s stock worth $43,550,000 after purchasing an additional 6,700 shares during the last quarter. Finally, Strategic Advisors LLC bought a new stake in Illinois Tool Works in the third quarter worth about $205,000. 79.42% of the stock is currently owned by institutional investors.
ITW has been the topic of several recent analyst reports. Credit Suisse Group reissued a “hold” rating and set a $124.00 price objective on shares of Illinois Tool Works in a research report on Tuesday, January 22nd. Wells Fargo & Co set a $145.00 target price on Illinois Tool Works and gave the company a “buy” rating in a report on Thursday, October 25th. ValuEngine upgraded Illinois Tool Works from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Deutsche Bank set a $133.00 price target on Illinois Tool Works and gave the company a “hold” rating in a report on Monday, December 10th. Finally, Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $128.00 to $124.00 in a report on Tuesday, February 5th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company’s stock. Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $137.93.
Shares of ITW stock opened at $139.82 on Thursday. The stock has a market capitalization of $46.35 billion, a PE ratio of 18.40, a PEG ratio of 2.21 and a beta of 1.19. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 1.85. Illinois Tool Works Inc. has a 52-week low of $117.75 and a 52-week high of $171.83.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, February 1st. The industrial products company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.01. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a return on equity of 69.48% and a net margin of 17.35%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $1.70 EPS. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 7.97 earnings per share for the current year.
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About Illinois Tool Works
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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