Wesbanco Bank Inc. Sells 287 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Wesbanco Bank Inc. lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,733 shares of the industrial products company’s stock after selling 287 shares during the period. Wesbanco Bank Inc.’s holdings in Illinois Tool Works were worth $1,454,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in shares of Illinois Tool Works by 4.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 220,917 shares of the industrial products company’s stock worth $56,016,000 after purchasing an additional 8,906 shares in the last quarter. Davis Capital Management increased its holdings in Illinois Tool Works by 198.4% in the 4th quarter. Davis Capital Management now owns 746 shares of the industrial products company’s stock worth $189,000 after buying an additional 496 shares in the last quarter. Simon Quick Advisors LLC raised its position in Illinois Tool Works by 3.2% in the 4th quarter. Simon Quick Advisors LLC now owns 2,247 shares of the industrial products company’s stock worth $570,000 after buying an additional 70 shares during the last quarter. Beaumont Financial Advisors LLC bought a new position in Illinois Tool Works during the 4th quarter valued at about $425,000. Finally, Perfromance Wealth Partners LLC boosted its holdings in shares of Illinois Tool Works by 8.8% during the 4th quarter. Perfromance Wealth Partners LLC now owns 2,841 shares of the industrial products company’s stock valued at $720,000 after acquiring an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $259.68 on Friday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The firm has a fifty day moving average price of $263.43 and a 200-day moving average price of $256.09. The stock has a market cap of $76.68 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 3.63 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $2.55 earnings per share. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ITW has been the subject of several research reports. Jefferies Financial Group boosted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday. Stifel Nicolaus upped their price objective on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Wells Fargo & Company cut their price target on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Finally, Citigroup lowered their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $270.11.

Illinois Tool Works 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.