Forsta AP Fonden Grows Position in Illinois Tool Works Inc. (NYSE:ITW)

Forsta AP Fonden boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.9% in the 4th quarter, HoldingsChannel reports. The fund owned 97,200 shares of the industrial products company’s stock after acquiring an additional 900 shares during the period. Forsta AP Fonden’s holdings in Illinois Tool Works were worth $24,646,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Nikulski Financial Inc. raised its stake in Illinois Tool Works by 3.6% in the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after buying an additional 39 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Illinois Tool Works by 2.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after acquiring an additional 40 shares in the last quarter. Sigma Planning Corp boosted its holdings 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 purchasing an additional 41 shares in the last quarter. Harbour Investments Inc. increased its stake 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 valued at $957,000 after purchasing an additional 41 shares during the last quarter. Finally, Procyon Advisors LLC raised its holdings in Illinois Tool Works by 2.7% during the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock worth $422,000 after purchasing an additional 43 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Down 2.1 %

Shares of NYSE:ITW opened at $258.87 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The company has a market cap of $76.44 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 3.60 and a beta of 1.11. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The firm’s 50-day simple moving average is $262.74 and its 200-day simple moving average is $256.86.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the company earned $2.55 earnings per share. Illinois Tool Works’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Stifel Nicolaus dropped their price objective on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Barclays reduced their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Truist Financial lifted their price target on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company reduced their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Two 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’s stock. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $269.89.

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.