TCF National Bank lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,635 shares of the industrial products company’s stock after selling 60 shares during the period. TCF National Bank’s holdings in Illinois Tool Works were worth $832,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in ITW. CFM Wealth Partners LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $25,000. D Orazio & Associates Inc. bought a new stake in shares of Illinois Tool Works during the third quarter valued at approximately $28,000. Strategic Blueprint LLC bought a new stake in shares of Illinois Tool Works during the third quarter valued at approximately $31,000. Garrett Wealth Advisory Group LLC bought a new stake in shares of Illinois Tool Works during the third quarter valued at approximately $33,000. Finally, B & T Capital Management DBA Alpha Capital Management bought a new stake in shares of Illinois Tool Works during the third quarter valued at approximately $34,000. 77.87% of the stock is currently owned by hedge funds and other institutional investors.
ITW has been the topic of several research reports. Credit Suisse Group lifted their price target on Illinois Tool Works from $144.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Argus set a $180.00 price target on Illinois Tool Works and gave the company a “buy” rating in a research report on Friday, October 25th. Deutsche Bank lifted their price target on Illinois Tool Works from $142.00 to $164.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. BMO Capital Markets restated a “market perform” rating and set a $165.00 price target on shares of Illinois Tool Works in a research report on Tuesday, February 4th. Finally, Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating and set a $180.00 price target on the stock. in a research report on Monday, October 28th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Illinois Tool Works presently has a consensus rating of “Hold” and an average target price of $159.79.
NYSE:ITW traded down $2.14 during trading hours on Friday, reaching $186.93. 388,573 shares of the company traded hands, compared to its average volume of 1,288,567. The business’s 50-day moving average price is $179.87 and its two-hundred day moving average price is $166.31. The stock has a market capitalization of $59.09 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.90 and a beta of 1.23. Illinois Tool Works Inc. has a 1 year low of $136.92 and a 1 year high of $190.05. The company has a current ratio of 2.90, a quick ratio of 2.36 and a debt-to-equity ratio of 2.56.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.85 by $0.03. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Illinois Tool Works had a return on equity of 81.83% and a net margin of 17.87%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 earnings per share. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 7.88 EPS for the current year.
About Illinois Tool Works
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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