Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Baldwin Wealth Partners LLC MA

Baldwin Wealth Partners LLC MA cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 35,069 shares of the industrial products company’s stock after selling 1,247 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in Illinois Tool Works were worth $8,892,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Parsons Capital Management Inc. RI boosted its holdings in Illinois Tool Works by 1.0% in the 4th quarter. Parsons Capital Management Inc. RI now owns 7,444 shares of the industrial products company’s stock worth $1,888,000 after buying an additional 73 shares during the last quarter. United Asset Strategies Inc. lifted its position in shares of Illinois Tool Works by 4.7% in the fourth quarter. United Asset Strategies Inc. now owns 9,624 shares of the industrial products company’s stock valued at $2,440,000 after acquiring an additional 434 shares in the last quarter. Apexium Financial LP acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth approximately $216,000. Capital Asset Advisory Services LLC raised its stake in Illinois Tool Works by 15.6% in the 4th quarter. Capital Asset Advisory Services LLC now owns 1,134 shares of the industrial products company’s stock valued at $286,000 after purchasing an additional 153 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Illinois Tool Works by 11.7% in the 4th quarter. Blue Trust Inc. now owns 9,679 shares of the industrial products company’s stock valued at $2,537,000 after purchasing an additional 1,013 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ITW. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Jefferies Financial Group raised their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Barclays dropped their price target on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Robert W. Baird upped their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $269.89.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $261.02 on Monday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The company has a market capitalization of $77.08 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11. The company’s 50 day simple moving average is $263.01 and its 200-day simple moving average is $256.60. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the business posted $2.55 earnings per share. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share 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.