Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,918 shares of the industrial products company’s stock after purchasing an additional 510 shares during the quarter. OLD National Bancorp IN’s holdings in Illinois Tool Works were worth $1,754,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sugar Maple Asset Management LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter worth about $28,000. True Wealth Design LLC raised 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 worth $30,000 after purchasing an additional 106 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of Illinois Tool Works in the 3rd quarter worth about $32,000. Ulland Investment Advisors LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter worth about $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter valued at about $35,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of ITW opened at $259.88 on Friday. The firm has a market cap of $76.74 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 3.60 and a beta of 1.11. The stock has a 50 day moving average of $262.55 and a 200-day moving average of $256.86. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.55 EPS. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Stifel Nicolaus dropped their target price on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Barclays lowered their price objective on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Jefferies Financial Group raised their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Robert W. Baird raised their price objective 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. Finally, Truist Financial raised their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $269.89.

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.