Illinois Tool Works Inc. (NYSE:ITW) Stake Decreased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 69.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,892 shares of the industrial products company’s stock after selling 10,904 shares during the period. First Citizens Bank & Trust Co.’s holdings in Illinois Tool Works were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $28,000. True Wealth Design LLC raised its holdings in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works during the third quarter valued at approximately $32,000. Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works during the third quarter valued at approximately $35,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.0 %

NYSE ITW opened at $259.83 on Monday. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. 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 stock has a market cap of $76.73 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 3.60 and a beta of 1.11. The firm’s 50 day moving average price is $263.01 and its two-hundred day moving average price is $256.45.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the company posted $2.55 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Robert W. Baird raised their price objective 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. Barclays lowered their price objective 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. Finally, Truist Financial lifted 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. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average price target of $269.89.

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.