Legato Capital Management LLC Has $1.46 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Legato Capital Management LLC lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 33.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,773 shares of the industrial products company’s stock after selling 2,922 shares during the period. Legato Capital Management LLC’s holdings in Illinois Tool Works were worth $1,464,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Illinois Tool Works by 29.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 29,989 shares of the industrial products company’s stock valued at $7,498,000 after acquiring an additional 6,801 shares in the last quarter. Kentucky Trust Co acquired a new stake in Illinois Tool Works in the fourth quarter worth $216,000. Certuity LLC increased its stake in Illinois Tool Works by 20.6% in the fourth quarter. Certuity LLC now owns 1,506 shares of the industrial products company’s stock valued at $382,000 after purchasing an additional 257 shares in the last quarter. Portfolio Design Labs LLC raised its holdings in shares of Illinois Tool Works by 56.5% during the fourth quarter. Portfolio Design Labs LLC now owns 1,643 shares of the industrial products company’s stock valued at $417,000 after purchasing an additional 593 shares during the period. Finally, Sovran Advisors LLC bought a new position in shares of Illinois Tool Works during the 4th quarter worth about $398,000. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wells Fargo & Company decreased their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Robert W. Baird boosted their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their target price for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Barclays decreased their price target on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Finally, Jefferies Financial Group raised their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Stock Performance

NYSE ITW opened at $256.12 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97. The company has a fifty day moving average price of $259.14 and a 200-day moving average price of $257.58. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The firm has a market cap of $75.63 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.79 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 10.38 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.