1,242 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by Clarity Financial LLC

Clarity Financial LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,242 shares of the industrial products company’s stock, valued at approximately $315,000.

Other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in Illinois Tool Works by 2.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 28,266 shares of the industrial products company’s stock valued at $6,698,000 after purchasing an additional 596 shares during the period. EP Wealth Advisors LLC increased its holdings in Illinois Tool Works by 2.8% during the second quarter. EP Wealth Advisors LLC now owns 4,513 shares of the industrial products company’s stock valued at $1,069,000 after buying an additional 123 shares during the period. Truist Financial Corp raised its stake in Illinois Tool Works by 2.4% in the second quarter. Truist Financial Corp now owns 67,363 shares of the industrial products company’s stock worth $15,962,000 after buying an additional 1,583 shares in the last quarter. Cetera Investment Advisers raised its stake in Illinois Tool Works by 7.6% in the second quarter. Cetera Investment Advisers now owns 60,619 shares of the industrial products company’s stock worth $14,364,000 after buying an additional 4,276 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in Illinois Tool Works by 2.2% during the second quarter. Clearbridge Investments LLC now owns 437,391 shares of the industrial products company’s stock worth $103,644,000 after buying an additional 9,513 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 1.4 %

NYSE ITW opened at $259.88 on Friday. The stock has a market cap of $76.74 billion, a P/E ratio of 22.48, a P/E/G ratio of 3.57 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 12-month low of $232.77 and a 12-month high of $279.13. The company has a fifty day simple moving average of $262.55 and a two-hundred day simple moving average of $256.86.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The company had revenue of $3.97 billion during 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 firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.55 EPS. On average, analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their price target on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Truist Financial raised their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Barclays decreased their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $269.89.

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.