Forsta AP Fonden Reduces Stake in Illinois Tool Works Inc. (NYSE:ITW)

Forsta AP Fonden trimmed its stake in Illinois Tool Works Inc. (NYSE:ITWGet Rating) by 5.4% during the first quarter, Holdings Channel reports. The fund owned 82,800 shares of the industrial products company’s stock after selling 4,700 shares during the period. Forsta AP Fonden’s holdings in Illinois Tool Works were worth $17,338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ITW. Allspring Global Investments Holdings LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $10,704,000. Centaurus Financial Inc. increased its holdings in Illinois Tool Works by 6.1% during the 4th quarter. Centaurus Financial Inc. now owns 1,579 shares of the industrial products company’s stock worth $390,000 after acquiring an additional 91 shares during the period. Pinnacle Associates Ltd. increased its holdings in Illinois Tool Works by 1.5% during the 4th quarter. Pinnacle Associates Ltd. now owns 9,025 shares of the industrial products company’s stock worth $2,227,000 after acquiring an additional 136 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Illinois Tool Works by 1.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,664 shares of the industrial products company’s stock worth $2,138,000 after acquiring an additional 140 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its holdings in Illinois Tool Works by 3.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 418,510 shares of the industrial products company’s stock worth $102,832,000 after acquiring an additional 14,511 shares during the period. Institutional investors own 79.03% of the company’s stock.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $210.76 on Friday. Illinois Tool Works Inc. has a 52-week low of $173.52 and a 52-week high of $249.81. The stock has a market capitalization of $65.64 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 2.31 and a beta of 1.11. The company has a fifty day moving average of $191.92 and a 200-day moving average of $205.34. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.24 and a current ratio of 1.48.

Illinois Tool Works (NYSE:ITWGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.15. The business had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.98 billion. Illinois Tool Works had a net margin of 17.44% and a return on equity of 75.41%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.10 EPS. Equities research analysts expect that Illinois Tool Works Inc. will post 9.08 EPS for the current year.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, EVP Lei Zhang Schlitz sold 1,000 shares of the stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $205.34, for a total transaction of $205,340.00. Following the completion of the sale, the executive vice president now owns 7,803 shares of the company’s stock, valued at approximately $1,602,268.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on ITW. Credit Suisse Group upped their target price on shares of Illinois Tool Works from $225.00 to $229.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup boosted their price target on shares of Illinois Tool Works from $191.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday. Stifel Nicolaus cut their price target on shares of Illinois Tool Works from $206.00 to $163.00 in a research note on Monday, July 18th. Morgan Stanley boosted their price target on shares of Illinois Tool Works from $182.00 to $191.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $180.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $204.00.

Illinois Tool Works Company Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITWGet Rating).

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.