Baldwin Wealth Partners LLC MA Reduces Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Baldwin Wealth Partners LLC MA reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 35,069 shares of the industrial products company’s stock after selling 1,247 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in Illinois Tool Works were worth $8,892,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $28,000. True Wealth Design LLC raised its position in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Illinois Tool Works during the 3rd quarter worth $32,000. Ulland Investment Advisors LLC purchased a new position in Illinois Tool Works during the 4th quarter worth $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works in the third quarter valued at about $35,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ITW shares. Robert W. Baird raised their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays lowered their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus cut their price target on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research note on Friday. Truist Financial lifted their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Citigroup reduced their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $269.89.

Illinois Tool Works Stock Performance

ITW opened at $261.02 on Monday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The stock has a market cap of $77.08 billion, a P/E ratio of 22.58, a P/E/G ratio of 3.60 and a beta of 1.11. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The stock’s 50 day simple moving average is $263.01 and its 200 day simple moving average is $256.60.

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