Country Trust Bank Decreases Stake in Illinois Tool Works Inc. (NYSE:ITW)

Country Trust Bank lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 732 shares of the industrial products company’s stock after selling 160 shares during the quarter. Country Trust Bank’s holdings in Illinois Tool Works were worth $186,000 at the end of the most recent reporting period.

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

Illinois Tool Works Stock Up 1.4 %

Shares of ITW opened at $259.88 on Friday. The firm has a market cap of $76.74 billion, a P/E ratio of 22.48, a P/E/G ratio of 3.57 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 stock has a 50 day simple moving average of $262.35 and a two-hundred day simple moving average of $256.88. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

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

Analyst Upgrades and Downgrades

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

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.