Pathway Financial Advisers LLC Makes New Investment in Illinois Tool Works Inc. (NYSE:ITW)

Pathway Financial Advisers LLC bought a new position in Illinois Tool Works Inc. (NYSE:ITW) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 474 shares of the industrial products company’s stock, valued at approximately $127,000.

Other large investors have also added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. boosted its stake in Illinois Tool Works by 1.4% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock worth $1,590,000 after purchasing an additional 84 shares during the period. PEAK6 Investments LLC boosted its position in shares of Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 140 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Illinois Tool Works during the 1st quarter valued at about $1,147,000. Norden Group LLC boosted its position in shares of Illinois Tool Works by 1,889.1% during the 1st quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock valued at $7,103,000 after acquiring an additional 25,144 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Illinois Tool Works by 6.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 213,106 shares of the industrial products company’s stock valued at $55,821,000 after acquiring an additional 12,065 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ITW shares. Stifel Nicolaus decreased their price objective on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday. Barclays cut their target price on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research note on Wednesday. Citigroup increased their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday. Four analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $248.67.

Illinois Tool Works Price Performance

ITW traded up $1.59 on Friday, hitting $243.85. 1,281,644 shares of the company’s stock traded hands, compared to its average volume of 1,134,753. The company’s 50 day simple moving average is $240.94 and its 200-day simple moving average is $251.06. The firm has a market cap of $72.76 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 3.80 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 2.17.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.41 EPS. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 10.25 EPS for the current year.

Insider Activity at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 775 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was acquired at an average cost of $238.82 per share, with a total value of $185,085.50. Following the transaction, the director now directly owns 121,506 shares in the company, valued at approximately $29,018,062.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by company insiders.

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.