Apollon Wealth Management LLC Purchases 1,093 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Apollon Wealth Management LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 12,823 shares of the industrial products company’s stock after buying an additional 1,093 shares during the quarter. Apollon Wealth Management LLC’s holdings in Illinois Tool Works were worth $3,251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works in the 4th quarter valued at about $28,000. True Wealth Design LLC boosted its position in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the third quarter valued at approximately $32,000. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at $35,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Robert W. Baird boosted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday. Stifel Nicolaus decreased their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Citigroup decreased their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $271.00.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $255.77 on Monday. The stock has a market cap of $75.53 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 4.79 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The company’s fifty day moving average is $259.91 and its 200 day moving average is $257.28.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.38 EPS for the current year.

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.