Sonora Investment Management Group LLC Sells 18,409 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Sonora Investment Management Group LLC decreased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 62.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,245 shares of the industrial products company’s stock after selling 18,409 shares during the period. Sonora Investment Management Group LLC’s holdings in Illinois Tool Works were worth $2,851,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITW. Franklin Resources Inc. lifted its stake in shares of Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after buying an additional 398,676 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Illinois Tool Works by 26,088.4% during the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after buying an additional 322,192 shares in the last quarter. National Bank of Canada FI increased its position in shares of Illinois Tool Works by 318.9% during the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after buying an additional 308,935 shares during the period. Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after acquiring an additional 167,422 shares during the period. Finally, Benjamin Edwards Inc. grew its stake in Illinois Tool Works by 787.3% during the third quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock valued at $48,945,000 after acquiring an additional 165,607 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ITW has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Stifel Nicolaus decreased their target price on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Barclays cut their price objective 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. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. 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 report on Monday, January 13th. Two 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. According to MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $269.89.

Illinois Tool Works Stock Up 1.4 %

Shares of NYSE:ITW opened at $259.88 on Friday. The stock’s 50-day moving average is $262.55 and its 200 day moving average is $256.86. The company has a market cap of $76.74 billion, a PE ratio of 22.48, a P/E/G ratio of 3.57 and a beta of 1.11. 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.

Illinois Tool Works (NYSE:ITW) last announced 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 analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $2.55 earnings per share. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current 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.