Legacy Trust Sells 85 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Legacy Trust lowered its holdings in Illinois Tool Works Inc. (NYSE:ITWFree Report) by 6.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,234 shares of the industrial products company’s stock after selling 85 shares during the period. Legacy Trust’s holdings in Illinois Tool Works were worth $313,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Nikulski Financial Inc. boosted its stake in shares of Illinois Tool Works by 3.6% in the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after buying an additional 39 shares during the period. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of Illinois Tool Works by 2.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after acquiring an additional 40 shares during the period. Sigma Planning Corp grew its holdings in shares of Illinois Tool Works by 0.9% during the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after purchasing an additional 41 shares in the last quarter. Harbour Investments Inc. increased its position in shares of Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after purchasing an additional 41 shares during the period. Finally, Procyon Advisors LLC raised its stake in Illinois Tool Works by 2.7% in the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock valued at $422,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ITW shares. Barclays decreased their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Citigroup reduced their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. 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 given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $269.89.

Check Out Our Latest Report on Illinois Tool Works

Illinois Tool Works Price Performance

Shares of ITW opened at $256.59 on Thursday. The business has a 50-day simple moving average of $262.74 and a two-hundred day simple moving average of $256.86. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The stock has a market cap of $75.77 billion, a PE ratio of 22.20, a PEG ratio of 3.60 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITWGet Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the business earned $2.55 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

About Illinois Tool Works

(Free Report)

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.

See Also

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

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