Illinois Tool Works Inc. (NYSE:ITW) Position Increased by Nilsine Partners LLC

Nilsine Partners LLC grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 19.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,996 shares of the industrial products company’s stock after purchasing an additional 326 shares during the period. Nilsine Partners LLC’s holdings in Illinois Tool Works were worth $506,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITW. Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $28,000. True Wealth Design LLC increased its position in 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 worth $30,000 after buying an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works during the third quarter valued at about $32,000. Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth about $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works during the 3rd quarter valued at about $35,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ITW. Citigroup reduced their target price 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. Jefferies Financial Group upped their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Stifel Nicolaus reduced their price target on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a report on Friday, January 24th. Finally, Wells Fargo & Company dropped their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $269.89.

Illinois Tool Works Trading Down 2.1 %

ITW stock opened at $258.87 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The firm has a market cap of $76.44 billion, a P/E ratio of 22.39, a P/E/G ratio of 3.60 and a beta of 1.11. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The business’s 50 day moving average is $262.89 and its 200-day moving average is $256.77.

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

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.