Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Cut by Westhampton Capital LLC

Westhampton Capital LLC lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,900 shares of the industrial products company’s stock after selling 50 shares during the period. Westhampton Capital LLC’s holdings in Illinois Tool Works were worth $482,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $28,000. True Wealth Design LLC lifted its stake in 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 purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works during the third quarter worth approximately $32,000. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works in the third quarter valued at $35,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Truist Financial increased their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Citigroup cut their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Jefferies Financial Group lifted 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 report on Friday, December 6th. Finally, Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price target for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $269.89.

Illinois Tool Works Stock Performance

ITW stock opened at $256.59 on Thursday. The stock has a market cap of $75.77 billion, a P/E ratio of 22.20, 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 quick ratio of 0.97 and a current ratio of 1.36. The firm has a 50 day simple moving average of $262.74 and a 200 day simple moving average of $256.86. 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 earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the business posted $2.55 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works 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.