Fort Washington Investment Advisors Inc. OH Sells 2,799 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Fort Washington Investment Advisors Inc. OH trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 44.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,455 shares of the industrial products company’s stock after selling 2,799 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Illinois Tool Works were worth $876,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at $28,000. True Wealth Design LLC increased its stake 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 worth $30,000 after acquiring an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the 3rd quarter worth about $32,000. Ulland Investment Advisors LLC bought a new position in Illinois Tool Works in the 4th quarter worth about $33,000. Finally, Northwest Investment Counselors LLC bought a new position in Illinois Tool Works in the 3rd quarter worth about $35,000. 79.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup decreased their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Robert W. Baird upped their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Truist Financial upped their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus increased their price objective on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Finally, Barclays reduced their price objective on 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. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $270.11.

Illinois Tool Works Trading Up 0.2 %

Shares of ITW stock opened at $259.68 on Friday. The stock has a market capitalization of $76.68 billion, a PE ratio of 22.46, a P/E/G ratio of 3.63 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. The business has a 50-day moving average of $263.43 and a 200 day moving average of $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.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.55 EPS. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current 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.