Illinois Tool Works Inc. (NYSE:ITW) Position Increased by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 63.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 121,226 shares of the industrial products company’s stock after acquiring an additional 47,137 shares during the period. Illinois Tool Works comprises about 1.8% of Smith Chas P & Associates PA Cpas’ portfolio, making the stock its 25th largest holding. Smith Chas P & Associates PA Cpas’ holdings in Illinois Tool Works were worth $30,738,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the fourth quarter valued at $28,000. True Wealth Design LLC lifted its position in 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 buying an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter valued at $32,000. Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter worth $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works during the third quarter worth $35,000. 79.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on ITW. Citigroup lowered their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price target for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Truist Financial boosted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus dropped their price target on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Barclays lowered their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $269.89.

Illinois Tool Works Stock Performance

NYSE ITW opened at $259.83 on Friday. The company’s fifty day moving average is $263.01 and its two-hundred day moving average is $256.30. The firm has a market capitalization of $76.73 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 3.60 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. 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 results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the company posted $2.55 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Company 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.