Blue Trust Inc. Acquires 1,013 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Blue Trust Inc. lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 11.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,679 shares of the industrial products company's stock after purchasing an additional 1,013 shares during the quarter. Blue Trust Inc.'s holdings in Illinois Tool Works were worth $2,537,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ITW. Sugar Maple Asset Management LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth $28,000. True Wealth Design LLC grew its holdings in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 3rd quarter worth $32,000. Ulland Investment Advisors LLC acquired a new stake in Illinois Tool Works in the fourth quarter valued at about $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works in the third quarter valued at about $35,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ITW. StockNews.com raised Illinois Tool Works from a "hold" rating to a "buy" rating in a research note on Wednesday, January 22nd. Jefferies Financial Group raised their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Truist Financial raised their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Robert W. Baird raised their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company reduced their price objective on Illinois Tool Works from $260.00 to $250.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of "Hold" and a consensus target price of $269.89.

Illinois Tool Works Trading Down 2.1 %

Shares of NYSE:ITW traded down $5.55 during midday trading on Tuesday, hitting $258.87. 905,311 shares of the stock were exchanged, compared to its average volume of 865,165. The stock has a market capitalization of $76.44 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 3.60 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The business's 50-day moving average price is $262.89 and its 200 day moving average price is $256.77. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion for the quarter, compared to analysts' expectations of $4.02 billion. During the same period in the prior year, the business posted $2.55 earnings per share. The firm's revenue was down 1.6% on a year-over-year basis. Analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share 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.