Angeles Wealth Management LLC Purchases 373 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Angeles Wealth Management LLC raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 32.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,529 shares of the industrial products company’s stock after acquiring an additional 373 shares during the period. Angeles Wealth Management LLC’s holdings in Illinois Tool Works were worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ITW. Livforsakringsbolaget Skandia Omsesidigt increased its position in Illinois Tool Works by 243.2% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,056 shares of the industrial products company’s stock valued at $541,000 after buying an additional 1,457 shares in the last quarter. Annex Advisory Services LLC grew its stake in shares of Illinois Tool Works by 54.8% during the third quarter. Annex Advisory Services LLC now owns 1,695 shares of the industrial products company’s stock worth $444,000 after acquiring an additional 600 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Illinois Tool Works by 1,542.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the industrial products company’s stock valued at $1,635,000 after purchasing an additional 5,860 shares during the last quarter. Smith Chas P & Associates PA Cpas acquired a new stake in Illinois Tool Works in the 3rd quarter worth approximately $19,417,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Illinois Tool Works by 5.9% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,583 shares of the industrial products company’s stock worth $1,987,000 after purchasing an additional 421 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

NYSE:ITW opened at $257.56 on Tuesday. The company has a 50 day moving average price of $259.91 and a 200-day moving average price of $257.40. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The firm has a market cap of $76.06 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97.

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, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of 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. Robert W. Baird boosted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group raised their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Truist Financial increased their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $271.00.

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.