Perigon Wealth Management LLC Has $2.28 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Perigon Wealth Management LLC grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 23.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,890 shares of the industrial products company’s stock after buying an additional 1,683 shares during the period. Perigon Wealth Management LLC’s holdings in Illinois Tool Works were worth $2,275,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nikulski Financial Inc. increased its holdings in Illinois Tool Works by 3.6% during the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after purchasing an additional 39 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in Illinois Tool Works by 2.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after purchasing an additional 40 shares in the last quarter. Sigma Planning Corp increased its holdings in Illinois Tool Works by 0.9% during the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after purchasing an additional 41 shares in the last quarter. Harbour Investments Inc. increased its holdings in Illinois Tool Works by 1.1% during the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after purchasing an additional 41 shares in the last quarter. Finally, Procyon Advisors LLC increased its holdings in Illinois Tool Works by 2.7% during the 3rd quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock worth $422,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.8 %

Shares of NYSE:ITW opened at $256.59 on Thursday. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The company has a market capitalization of $75.77 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11. The company has a 50-day simple moving average of $262.74 and a 200 day simple moving average of $256.86. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays lowered their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Jefferies Financial Group increased their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Citigroup decreased their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $269.89.

Illinois Tool Works 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.