Harbour Trust & Investment Management Co Lowers Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Harbour Trust & Investment Management Co cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,436 shares of the industrial products company’s stock after selling 62 shares during the period. Harbour Trust & Investment Management Co’s holdings in Illinois Tool Works were worth $2,393,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $28,000. True Wealth Design LLC lifted its stake in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works in the third quarter valued at approximately $32,000. Ulland Investment Advisors LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at about $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter worth $35,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 0.3 %

ITW opened at $255.77 on Monday. 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 stock’s fifty day simple moving average is $259.91 and its 200 day simple moving average is $257.28. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The stock has a market cap of $75.53 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial lifted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus reduced their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, Jefferies Financial Group upped their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $271.00.

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.