Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Financial Advocates Investment Management

Financial Advocates Investment Management increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,186 shares of the industrial products company’s stock after acquiring an additional 135 shares during the period. Financial Advocates Investment Management’s holdings in Illinois Tool Works were worth $1,061,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ITW. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works in the fourth quarter valued at approximately $28,000. True Wealth Design LLC boosted its holdings in shares of 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 valued at $30,000 after purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter valued at $32,000. Ulland Investment Advisors LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter worth $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works in the third quarter valued at $35,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. dropped their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday. Barclays decreased their price objective on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday. Robert W. Baird raised their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Truist Financial upped their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $271.00.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $255.77 on Friday. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The stock has a market cap of $75.53 billion, a P/E ratio of 22.13, a PEG ratio of 3.61 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The firm has a 50-day moving average of $260.34 and a two-hundred day moving average of $257.11.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. On average, research analysts expect that Illinois Tool Works Inc. will post 10.14 earnings per share 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.