Bartlett & CO. Wealth Management LLC Has $53.80 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Bartlett & CO. Wealth Management LLC lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 210,930 shares of the industrial products company’s stock after selling 1,696 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Illinois Tool Works were worth $53,799,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ITW. AE Wealth Management LLC increased its position in Illinois Tool Works by 32.8% during the 2nd quarter. AE Wealth Management LLC now owns 3,490 shares of the industrial products company’s stock worth $827,000 after buying an additional 862 shares during the period. Sei Investments Co. grew its position in Illinois Tool Works by 21.3% in the second quarter. Sei Investments Co. now owns 71,084 shares of the industrial products company’s stock valued at $16,843,000 after acquiring an additional 12,496 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Illinois Tool Works by 71.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 34,889 shares of the industrial products company’s stock valued at $8,267,000 after purchasing an additional 14,564 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Illinois Tool Works by 94.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,361 shares of the industrial products company’s stock valued at $337,000 after acquiring an additional 662 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of Illinois Tool Works by 165.2% during the second quarter. Public Sector Pension Investment Board now owns 6,843 shares of the industrial products company’s stock worth $1,622,000 after purchasing an additional 4,263 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ITW shares. Barclays cut their price objective 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. Wells Fargo & Company lowered their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group upped their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Stifel Nicolaus boosted their target price on Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Finally, Citigroup decreased their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $270.11.

Illinois Tool Works Stock Performance

ITW opened at $259.02 on Thursday. The firm has a 50 day moving average of $263.71 and a two-hundred day moving average of $256.07. The firm has a market capitalization of $76.49 billion, a PE ratio of 22.41, a P/E/G ratio of 3.63 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. 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 (NYSE:ITW) last released its 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. 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 analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the company earned $2.55 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Company Profile

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.