Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,340 shares of the industrial products company’s stock after purchasing an additional 214 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Illinois Tool Works were worth $2,622,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works during the fourth quarter worth about $28,000. True Wealth Design LLC grew its holdings in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 3rd quarter worth approximately $32,000. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter valued at approximately $33,000. Finally, Northwest Investment Counselors LLC bought a new position in Illinois Tool Works during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ITW shares. Barclays cut their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday. Truist Financial boosted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup cut their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. decreased their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $271.00.

Illinois Tool Works Trading Up 0.3 %

Shares of Illinois Tool Works stock opened at $255.77 on Monday. The business has a fifty day simple moving average of $259.91 and a 200-day simple moving average of $257.28. The firm has a market cap of $75.53 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

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, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.38 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.