American Institute for Advanced Investment Management LLP Cuts Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

American Institute for Advanced Investment Management LLP trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 13.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,840 shares of the industrial products company's stock after selling 1,052 shares during the quarter. Illinois Tool Works accounts for about 1.3% of American Institute for Advanced Investment Management LLP's portfolio, making the stock its 13th largest position. American Institute for Advanced Investment Management LLP's holdings in Illinois Tool Works were worth $1,734,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Busey Bank increased its position in shares of Illinois Tool Works by 0.8% during the fourth quarter. Busey Bank now owns 6,448 shares of the industrial products company's stock worth $1,635,000 after buying an additional 53 shares during the period. Baron Wealth Management LLC lifted its stake in shares of Illinois Tool Works by 4.5% in the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company's stock valued at $231,000 after buying an additional 39 shares in the last quarter. Milestone Asset Management LLC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at $941,000. Hanson & Doremus Investment Management lifted its stake in shares of Illinois Tool Works by 10.7% in the fourth quarter. Hanson & Doremus Investment Management now owns 1,031 shares of the industrial products company's stock valued at $261,000 after buying an additional 100 shares in the last quarter. Finally, Ibex Wealth Advisors bought a new position in shares of Illinois Tool Works in the fourth quarter valued at $316,000. 79.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Evercore ISI lowered shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and raised their price objective for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. StockNews.com upgraded shares of Illinois Tool Works from a "hold" rating to a "buy" rating in a report on Wednesday, January 22nd. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Stifel Nicolaus cut their price objective on shares of Illinois Tool Works from $268.00 to $266.00 and set a "hold" rating for the company in a research report on Friday, January 24th. Finally, Wells Fargo & Company cut their price objective on shares of 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of "Hold" and an average target price of $269.89.

Illinois Tool Works Trading Down 0.4 %

Shares of ITW traded down $0.97 during mid-day trading on Friday, reaching $259.16. The company's stock had a trading volume of 1,253,947 shares, compared to its average volume of 897,152. The stock has a market cap of $76.53 billion, a PE ratio of 22.42, 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 52 week low of $232.77 and a 52 week high of $279.13. The company's fifty day moving average price is $262.35 and its two-hundred day moving average price is $256.88.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate 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 company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the firm earned $2.55 earnings per share. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share 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.