FSR Wealth Management Ltd. Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

FSR Wealth Management Ltd. bought a new position in Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,478 shares of the industrial products company’s stock, valued at approximately $375,000. Illinois Tool Works makes up about 0.5% of FSR Wealth Management Ltd.’s investment portfolio, making the stock its 25th largest holding.

Several other large investors have also recently bought and sold shares of ITW. Nikulski Financial Inc. lifted its position in shares of Illinois Tool Works by 3.6% in the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after purchasing an additional 39 shares during the period. Baron Wealth Management LLC increased its stake in shares of Illinois Tool Works by 4.5% in the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 39 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of Illinois Tool Works by 2.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after acquiring an additional 40 shares during the period. Sigma Planning Corp grew its holdings in Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after purchasing an additional 41 shares during the period. Finally, Harbour Investments Inc. increased its stake in Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after purchasing an additional 41 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ITW shares. Robert W. Baird increased 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. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Truist Financial raised their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Jefferies Financial Group increased their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, Citigroup reduced their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $271.00.

Illinois Tool Works Trading Up 0.3 %

NYSE:ITW opened at $255.77 on Monday. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The stock’s fifty day moving average price is $259.91 and its two-hundred day moving average price is $257.28. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97. The company has a market cap of $75.53 billion, a P/E ratio of 21.82, a P/E/G ratio of 4.79 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping 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%. As a group, analysts expect that Illinois Tool Works Inc. will post 10.38 EPS for the current year.

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.