Avior Wealth Management LLC Has $631,000 Stake in Illinois Tool Works Inc. (NYSE:ITW)

Avior Wealth Management LLC lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,489 shares of the industrial products company’s stock after selling 89 shares during the quarter. Avior Wealth Management LLC’s holdings in Illinois Tool Works were worth $631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ITW. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the fourth quarter worth approximately $28,000. True Wealth Design LLC increased its holdings in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works in the 3rd quarter valued at $32,000. Ulland Investment Advisors LLC acquired a new stake in Illinois Tool Works during the 4th quarter valued at $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works in the third quarter valued at $35,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday. Truist Financial increased their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Robert W. Baird boosted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Barclays dropped their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and an average price target of $269.89.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $259.83 on Friday. The company has a 50 day moving average of $263.01 and a 200-day moving average of $256.30. The company has a market cap of $76.73 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13.

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

About Illinois Tool Works

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.