Sumitomo Mitsui Trust Group Inc. Acquires 1,824 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 690,924 shares of the industrial products company’s stock after buying an additional 1,824 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Illinois Tool Works worth $175,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new stake in Illinois Tool Works in the fourth quarter worth $2,710,000. Financial Advocates Investment Management raised its holdings in shares of Illinois Tool Works by 3.3% in the fourth quarter. Financial Advocates Investment Management now owns 4,186 shares of the industrial products company’s stock valued at $1,061,000 after acquiring an additional 135 shares in the last quarter. Adero Partners LLC raised its holdings in shares of Illinois Tool Works by 13.0% in the fourth quarter. Adero Partners LLC now owns 931 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 107 shares in the last quarter. Robertson Stephens Wealth Management LLC raised its holdings in shares of Illinois Tool Works by 10.1% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 2,629 shares of the industrial products company’s stock valued at $671,000 after acquiring an additional 242 shares in the last quarter. Finally, Tyche Wealth Partners LLC grew its stake in Illinois Tool Works by 41.8% in the fourth quarter. Tyche Wealth Partners LLC now owns 10,782 shares of the industrial products company’s stock valued at $2,734,000 after purchasing an additional 3,177 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 0.3 %

Shares of ITW opened at $255.77 on Friday. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The company has a market capitalization of $75.53 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 3.61 and a beta of 1.11. The stock has a fifty day simple moving average of $260.34 and a two-hundred day simple moving average of $257.11. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.14 EPS for the current year.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of research analyst reports. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Robert W. Baird raised their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company decreased their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $271.00.

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.