Sovran Advisors LLC Purchases New Shares in Illinois Tool Works Inc. (NYSE:ITW)

Sovran Advisors LLC purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,575 shares of the industrial products company’s stock, valued at approximately $398,000.

Other large investors have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works in the 4th quarter valued at about $28,000. True Wealth Design LLC increased its holdings 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 purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works during the 3rd quarter worth approximately $32,000. Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works during the 4th quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works during the 3rd quarter worth approximately $35,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 1.0 %

Shares of Illinois Tool Works stock opened at $256.12 on Thursday. The stock has a market capitalization of $75.63 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.79 and a beta of 1.11. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. 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 business’s 50 day simple moving average is $259.14 and its 200-day simple moving average is $257.58.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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%. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ITW shares. Truist Financial raised their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird upped their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, Barclays decreased their target price on 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.