Illinois Tool Works Inc. (NYSE:ITW) Stock Position Lifted by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,340 shares of the industrial products company’s stock after purchasing an additional 214 shares during the period. Kingsview Wealth Management LLC’s holdings in Illinois Tool Works were worth $2,622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Nikulski Financial Inc. boosted its position in Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 39 shares during the last quarter. Baron Wealth Management LLC grew its stake in shares of Illinois Tool Works by 4.5% in the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after buying an additional 39 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in Illinois Tool Works by 2.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after buying an additional 40 shares during the last quarter. Sigma Planning Corp lifted its stake in Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after acquiring an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after acquiring an additional 41 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ITW. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. decreased their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. 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. Citigroup decreased 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. Finally, Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Trading Up 0.3 %

Shares of ITW stock opened at $255.77 on Monday. The firm has a market capitalization of $75.53 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 4.79 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 firm’s fifty day simple moving average is $259.91 and its 200 day simple moving average is $257.28. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.38 EPS for the current year.

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.