Heck Capital Advisors LLC Invests $739,000 in Illinois Tool Works Inc. (NYSE:ITW)

Heck Capital Advisors LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, HoldingsChannel reports. The fund bought 2,915 shares of the industrial products company’s stock, valued at approximately $739,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ITW. Pensionfund Sabic raised its holdings in Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after purchasing an additional 2,000 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after acquiring an additional 398,676 shares in the last quarter. Clark & Stuart Inc purchased a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $1,729,000. Czech National Bank raised its stake in shares of Illinois Tool Works by 5.9% during the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after purchasing an additional 3,227 shares during the period. Finally, Wolverine Asset Management LLC purchased a new position in Illinois Tool Works in the third quarter valued at about $1,179,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ITW shares. Robert W. Baird increased their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company dropped their target price on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Stifel Nicolaus decreased their price objective on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Citigroup lowered their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $269.89.

Illinois Tool Works Price Performance

ITW stock opened at $259.16 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The firm has a market capitalization of $76.53 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 3.57 and a beta of 1.11. The firm has a 50 day moving average price of $262.35 and a 200-day moving average price of $256.88. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion for 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 for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.55 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

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.