Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,532 shares of the industrial products company’s stock after selling 70 shares during the period. Illinois Tool Works comprises about 1.2% of MeadowBrook Investment Advisors LLC’s investment portfolio, making the stock its 21st biggest holding. MeadowBrook Investment Advisors LLC’s holdings in Illinois Tool Works were worth $1,403,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ITW. Sugar Maple Asset Management LLC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at $28,000. True Wealth Design LLC boosted its stake in Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Illinois Tool Works in the third quarter worth $32,000. Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works in the 3rd quarter valued at $35,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $258.65 on Wednesday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The stock has a market cap of $76.38 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.90. The company’s fifty day moving average price is $259.49 and its 200-day moving average price is $257.50.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, equities analysts expect that Illinois Tool Works Inc. will post 10.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ITW has been the subject of several analyst reports. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lowered their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Barclays reduced their price target on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Finally, Truist Financial increased their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $271.00.

About Illinois Tool Works

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.