Wingate Wealth Advisors Inc. Makes New Investment in Illinois Tool Works Inc. (NYSE:ITW)

Wingate Wealth Advisors Inc. purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 300 shares of the industrial products company’s stock, valued at approximately $76,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITW. Franklin Resources Inc. raised its position in shares of Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after buying an additional 398,676 shares in the last quarter. International Assets Investment Management LLC increased its stake in Illinois Tool Works by 26,088.4% in the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after acquiring an additional 322,192 shares during the last quarter. National Bank of Canada FI increased its stake in Illinois Tool Works by 318.9% in the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after acquiring an additional 308,935 shares during the last quarter. Geode Capital Management LLC increased its stake in Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after acquiring an additional 167,422 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its stake in Illinois Tool Works by 787.3% in the third quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock valued at $48,945,000 after acquiring an additional 165,607 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Trading Up 0.8 %

ITW opened at $257.56 on Tuesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The firm has a market capitalization of $76.06 billion, a PE ratio of 21.98, a P/E/G ratio of 4.79 and a beta of 1.11. The company’s 50-day moving average is $259.91 and its 200 day moving average is $257.40.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, research analysts predict that Illinois Tool Works Inc. will post 10.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ITW. Barclays decreased their price objective on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday. Wells Fargo & Company decreased their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus reduced their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Jefferies Financial Group boosted their price objective on shares of 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, JPMorgan Chase & Co. reduced their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.