Gamble Jones Investment Counsel lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 14.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,443 shares of the industrial products company’s stock after selling 600 shares during the quarter. Gamble Jones Investment Counsel’s holdings in Illinois Tool Works were worth $436,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in ITW. Massachusetts Financial Services Co. MA raised its position in shares of Illinois Tool Works by 25.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,912,686 shares of the industrial products company’s stock valued at $975,518,000 after buying an additional 1,401,794 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Illinois Tool Works by 20.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,803,640 shares of the industrial products company’s stock worth $677,888,000 after acquiring an additional 830,998 shares in the last quarter. BlackRock Inc. grew its stake in Illinois Tool Works by 2.5% in the 3rd quarter. BlackRock Inc. now owns 21,290,319 shares of the industrial products company’s stock worth $3,004,489,000 after acquiring an additional 528,550 shares in the last quarter. Bristol John W & Co. Inc. NY bought a new position in Illinois Tool Works in the 3rd quarter worth about $55,822,000. Finally, Vanguard Group Inc grew its stake in Illinois Tool Works by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 25,617,374 shares of the industrial products company’s stock worth $3,615,123,000 after acquiring an additional 317,172 shares in the last quarter. Institutional investors and hedge funds own 79.42% of the company’s stock.
A number of equities analysts have commented on ITW shares. Citigroup set a $148.00 target price on shares of Illinois Tool Works and gave the stock a “buy” rating in a research note on Thursday, October 25th. Morgan Stanley cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $131.00 to $115.00 in a research report on Tuesday, December 18th. Deutsche Bank set a $133.00 price target on shares of Illinois Tool Works and gave the stock a “hold” rating in a research report on Monday, December 10th. Credit Suisse Group reaffirmed a “hold” rating and issued a $124.00 price target on shares of Illinois Tool Works in a research report on Tuesday, January 22nd. Finally, ValuEngine raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company. Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $137.93.
NYSE:ITW opened at $135.72 on Monday. Illinois Tool Works Inc. has a 52 week low of $117.75 and a 52 week high of $171.83. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.63 and a quick ratio of 1.26. The company has a market cap of $45.03 billion, a P/E ratio of 17.86, a PEG ratio of 2.21 and a beta of 1.19.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, February 1st. The industrial products company reported $1.83 EPS for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.01. Illinois Tool Works had a net margin of 17.35% and a return on equity of 69.48%. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the prior year, the company posted $1.70 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 7.97 EPS for the current fiscal year.
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Illinois Tool Works Company Profile
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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